Winbond Electronics, which manufactures NOR flash has signed a NT$5 billion (US$171.7 million) three-year syndicated loan agreement with 10 local banks in Taiwan.

The loan will be used to repay certain loans and to finance its working capital, according to the company.

Winbond previously secured a syndicated bank loan of NT$7 billion over a period of five years, according to a company statement issued in September 2011. The funds were used to purchase machinery and equipment necessary for process technology upgrades.

Winbond has shifted production of specialty DRAM to 46nm process and NOR flash to 58nm, the chipmaker was quoted as revealing in previous reports. Winbond saw its gross margin climb 5pp sequentially to 11% in the third quarter of 2012 on higher yield rates for its 46nm and 58nm products. Operating losses for the third quarter of 2012 shrank to NT$329.9 million from losses of NT$473.5 million in the second quarter.

By: DocMemory
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