Electronics Production | November 25, 2008
NXP to draw US$ 400 million under available credit facility
NXP Semiconductors is drawing USD 400 million under its available revolving credit facility.
Karl-Henrik Sundström, Chief Financial Officer of NXP said today: “In view of the current global financial turmoil we are drawing USD 400 million under our revolving credit facility. This is a proactive financial decision in order to secure availability of this facility in a turbulent financial market environment. At the end of Q3, NXP’s cash position amounted to USD 1535 million. With the proceeds from the drawdown, NXP further strengthens its already strong liquidity position.