AMD Announces Agreement With Bank Consortium.SUNNYVALE, Calif.--(BUSINESS WIRE)--June 30, 1999-- AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. (NYSE NYSE See: New York Stock Exchange :AMD) announced today that it has executed an agreement with the consortium of banks providing financing for the company's Dresden manufacturing facility, Fab 30, to remove a requirement for a $200 million equity offering. The agreement with the lenders to AMD Saxony Saxony (săk`sənē), Ger. Sachsen, Fr. Saxe, state (1994 pop. 4,901,000), 7,078 sq mi (18,337 sq km), E central Germany. Dresden is the capital. Manufacturing GmbH (AMD Saxonia), AMD's indirect wholly-owned subsidiary, relieves AMD of a requirement to undertake a stock offering by June 30, 1999 in order to fund its $70 million sponsors' loan to AMD Saxonia. The lenders and AMD have agreed in the alternative that the $70 million loan may be funded from available cash. AMD will fund the $70 million loan by June 30, 1999. About AMD AMD is a global supplier of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. for the personal and networked computer and communications markets. AMD produces microprocessors, flash memories, and integrated circuits for communications and networking applications. Founded in 1969 and based in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. , AMD had revenues of $2.5 billion in 1998. (NYSE:AMD). Note to Editors: AMD is a trademark of Advanced Micro Devices, Inc. |
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