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TOKYO, JAPAN, March 28, 2005 - Elpida Memory, Inc (Elpida), Japan's leading supplier of Dynamic Random Access Memory (DRAM), today announced that it has established a syndicated credit facility valued at JPY50 Billion with 29 financial institutions, consisting of term loans with a commitment period to support the flexible and timely implementation of planned capital expenditures. In addition to the syndicated facility, Elpida has also assured a JPY50 billion short-term commitment facility with its five major banks, consisting of short-term loans so supplement its short-term working capital requirements. This brings the total amount of newly available financing options to JPY100 Billion.
The syndicated facility is the first such agreement since Elpida's Initial Public Offering (IPO) in November 2004. Under the terms and conditions of the agreement, Elpida may execute term loans with a maturity date ending in March 2009. UFJ Bank Limited and Sumitomo Mitsui Banking Corporation have acted as Arrangers, and UFJ Bank Limited has acted as Agent.
In addition to financing from the capital market through the straight bonds issued on March 22, 2005, this syndicated credit facility represents Elpida's strategy to further diversify its financing options through market-oriented indirect financing.
About Elpida Memory, Inc.
Elpida Memory, Inc. is a manufacturer of Dynamic Random Access Memory (DRAM) silicon chips with headquarters based in Tokyo, Japan, and sales and marketing operations located in Japan, North America, Europe and Asia. Elpida's state-of-the-art semiconductor wafer manufacturing facilities are located in Hiroshima, Japan. Elpida offers a broad range of leading-edge DRAM products for high-end servers, mobile phones, digital television sets and digital cameras as well as personal computers. Elpida had sales of ¥100.4 billion during the fiscal year ending March 31, 2004.
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The information contained within this news release, is current as of the date of release. Please note that the information herein may be revised later without prior notice.
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