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Renesas secures USD 2.1 billion of syndicated loans
Renesas Electronics has secured 161 billion yen in syndicated loans from four Japanese banks.
Renesas also announced that it has secured an additional 97 billion yen from the four banks, as well as major shareholders Mitsubishi Electric Corp, Hitachi Ltd and NEC Corp.
EDITOR'S NOTE_ Renesas is a result of the merger of the chip divisions of Mitsubishi, Hitachi and NEC."These agreements now secure the funds for the structural reform of production sites and the early retirement incentive program as announced by Renesas on July 3, 2012. This financing will become effective October 1, 2012", a press release reads.
