Nanya Technology has signed a NT$12 billion (US$400 million) syndicated loan agreement with 14 local banks in Taiwan, according to the memory chipmaker.

At its most recent investors meeting, Nanya said that the funds would be used for financing working capital and loan repayments.

Once known as a supplier of PC DRAM memory, Nanya has shifted its corporate focus to specialty DRAM and other niche-market memory chips. Nanya swung to net profits in the first quarter of 2013, after 12 consecutive quarters of losses.

By: DocMemory
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