Tag: dram

The Taiwan memory-chip maker says 80.34% of the CBs were tendered or will be held to maturity, allowing it to move on to the next phase of its restructuring. Soft indications of support for the bond buyback suggest the acceptance rate will be above the 79% needed for the deal to succeed, but analysts warn of more troubles ahead. The cash-strapped DRAM maker says more than 50% of its CB holders have indicated support for the offer, but some need more time to complete the tender process. The Taiwanese DRAM manufacturer secures a syndicated loan to cover a tender at 26.5 cents on the dollar, but more debt redemptions ahead suggest the company's troubles are not ... The 4.5% coupon allows the memory-chip maker to achieve a premium above 40%, but the strong demand suggests investors think it is good value. The company's fifth ECM transaction since 2003 achieves aggressive pricing, partly thanks to strong liquidity. Recovery in share price allowed for quick return to market; price is fixed at 8% discount after solid demand. The DRAM manufacturer makes use of positive sector momentum to raise $303 million in a combined GDS offering. The CB is attractively priced, with bankers terming it a "no brainer". Inotera raises $421 million for aggressive capex plan and lifts foreign ownership of the stock in the process. Inotera Memories, a joint venture between Nan Ya Tech and Infineon, mandates seven to raise plant financing. Powerchip and ProMos Technologies prepare to launch GDR offerings to fund construction of 12 inch fabs.