DRAM manufacturer Inotera Memories, a production subsidiary of US-based Micron Technology, has signed a NT$10 billion (US$345.3 million) three-year syndicated loan agreement with a consortium of 12 banks led by the Bank of Taiwan.

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

Inotera has said that the company is ramping up production of 30nm chips, and expects to completely shift from 42nm to the newer node by the end of April 2013.

Inotera experienced an 11th consecutive quarterly loss in the third quarter of 2012. Market watchers believe that the firm will likely stay in the red in the fourth quarter of the year.

Inotera will discuss its financial results for fourth-quarter 2012 at an upcoming investors meeting on January 23.

By: DocMermory
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