{"id":5553,"date":"2013-11-12T12:36:09","date_gmt":"2013-11-12T11:36:09","guid":{"rendered":"http:\/\/www.planet3dnow.de\/cms\/?p=5553"},"modified":"2013-11-12T12:36:42","modified_gmt":"2013-11-12T11:36:42","slug":"amd-announces-closing-of-500-million-secured-revolving-line-of-credit","status":"publish","type":"post","link":"https:\/\/www.planet3dnow.de\/cms\/5553-amd-announces-closing-of-500-million-secured-revolving-line-of-credit\/","title":{"rendered":"AMD<\/span> Announces Closing of $500 Million Secured Revolving Line of Credit"},"content":{"rendered":"

SUNNYVALE<\/span>, CA<\/span> \u2014 (Mar\u00adket\u00adwired) \u2014 11\/12\/13 \u2014 AMD<\/span><\/a><\/strong> (NYSE<\/span>: AMD<\/span>) today announ\u00adced that the com\u00adpa\u00adny and its sub\u00adsi\u00addia\u00adry, AMD<\/span> Inter\u00adna\u00adtio\u00adnal Sales &<\/span> Ser\u00advice, Ltd. (coll\u00adec\u00adtively, the \u201cBor\u00adro\u00adwers\u201d), have ente\u00adred into a loan and secu\u00adri\u00adty agree\u00adment for a prin\u00adci\u00adpal amount up to $500 mil\u00adli\u00adon (the \u201cSecu\u00adred Revol\u00adving Line of Cre\u00addit\u201d) with a group of len\u00adders and Bank of Ame\u00adri\u00adca, N.A. acting as agent for the len\u00adders. The pro\u00adceeds of the Secu\u00adred Revol\u00adving Line of Cre\u00addit may be used for gene\u00adral cor\u00adpo\u00adra\u00adte pur\u00adpo\u00adses, inclu\u00adding working capi\u00adtal needs. Avai\u00adla\u00adbi\u00adli\u00adty under the Secu\u00adred Revol\u00adving Line of Cre\u00addit is limi\u00adt\u00aded to a bor\u00adro\u00adwing base of 85% of eli\u00adgi\u00adble accounts receiva\u00adble, less cer\u00adtain reser\u00adves. The obli\u00adga\u00adti\u00adons under the Secu\u00adred Revol\u00adving Line of Cre\u00addit are secu\u00adred by the Bor\u00adro\u00adwers\u2019 accounts receiva\u00adble and inven\u00adto\u00adry. The five-year Secu\u00adred Revol\u00adving Line of Cre\u00addit will matu\u00adre on Novem\u00adber 12, 2018. No dra\u00adwings were made under the Secu\u00adred Revol\u00adving Line of Cre\u00addit on the clo\u00adsing date of the loan agreement.<\/p>\n

\u201c<\/span>We have made signi\u00adfi\u00adcant pro\u00adgress during the last year streng\u00adthening our capi\u00adtal struc\u00adtu\u00adre to sup\u00adport our stra\u00adte\u00adgic growth plans,\u201d said Devin\u00adder Kumar, AMD<\/span> seni\u00ador vice pre\u00adsi\u00addent and chief finan\u00adcial offi\u00adcer. \u201cWe expect to end the fourth quar\u00adter of 2013 with cash, cash equi\u00adva\u00adlents and mar\u00adke\u00adta\u00adble secu\u00adri\u00adties, inclu\u00adding long-term mar\u00adke\u00adta\u00adble secu\u00adri\u00adties, balan\u00adces of appro\u00adxi\u00adm\u00adate\u00adly $1.2 bil\u00adli\u00adon and remain com\u00admit\u00adted to main\u00adtai\u00adning ongo\u00ading balan\u00adces of appro\u00adxi\u00adm\u00adate\u00adly $1.1 bil\u00adli\u00adon, our tar\u00adget opti\u00admal level. This secu\u00adred revol\u00adving line of cre\u00addit pro\u00advi\u00addes AMD<\/span> with grea\u00adter finan\u00adcial fle\u00adxi\u00adbi\u00adli\u00adty as we con\u00adti\u00adnue trans\u00adforming AMD<\/span> for growth across a more diver\u00adse set of markets.\u201d<\/p>\n

About AMD<\/span> <\/strong>
\n<\/em>AMD<\/span> (NYSE<\/span>: AMD<\/span>) designs and inte\u00adgra\u00adtes tech\u00adno\u00adlo\u00adgy that powers mil\u00adli\u00adons of intel\u00adli\u00adgent devices, inclu\u00adding per\u00adso\u00adnal com\u00adpu\u00adters, tablets, game con\u00adso\u00adles and cloud ser\u00advers that defi\u00adne the new era of sur\u00adround com\u00adpu\u00adting. AMD<\/span> solu\u00adti\u00adons enable peo\u00adp\u00adle ever\u00ady\u00adwhe\u00adre to rea\u00adli\u00adze the full poten\u00adti\u00adal of their favo\u00adri\u00adte devices and appli\u00adca\u00adti\u00adons to push the boun\u00adda\u00adries of what is pos\u00adsi\u00adble. For more infor\u00adma\u00adti\u00adon, visit www.amd.com<\/a>.<\/span><\/p>\n

This press release con\u00adta\u00adins for\u00adward-loo\u00adking state\u00adments con\u00adcer\u00adning Advan\u00adced Micro Devices, Inc.(\u201cAMD<\/span>\u201d or the \u201cCom\u00adpa\u00adny\u201d) inclu\u00adding, among other things, AMD<\/span>\u2019s tar\u00adget opti\u00admal cash balan\u00adce and cash balan\u00adce for the fourth quar\u00adter of 2013, the anti\u00adci\u00adpa\u00adted bene\u00adfits and use of the Secu\u00adred Revol\u00adving Line of Cre\u00addit and the abili\u00adty of AMD<\/span> to trans\u00adform for growth across a more diver\u00adse set of mar\u00adkets, which are made pur\u00adsu\u00adant to the safe har\u00adbor pro\u00advi\u00adsi\u00adons of the Pri\u00adva\u00adte Secu\u00adri\u00adties Liti\u00adga\u00adti\u00adon Reform Act. For\u00adward-loo\u00adking state\u00adments are com\u00admon\u00adly iden\u00adti\u00adfied by words such as \u201cwould,\u201d \u201cmay,\u201d \u201cexpects,\u201d \u201cbelie\u00adves,\u201d \u201cplans,\u201d \u201cintends,\u201d \u201cpro\u00adjects,\u201d and other terms with simi\u00adlar mea\u00adning. Inves\u00adtors are cau\u00adtio\u00adned that the for\u00adward-loo\u00adking state\u00adments in this pre\u00adsen\u00adta\u00adti\u00adon are based on cur\u00adrent beliefs, assump\u00adti\u00adons and expec\u00adta\u00adti\u00adons, speak only as of the date of this pre\u00adsen\u00adta\u00adti\u00adon and invol\u00adve risks and uncer\u00adtain\u00adties that could cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from cur\u00adrent expec\u00adta\u00adti\u00adons. Risks include the pos\u00adsi\u00adbi\u00adli\u00adty that that Intel Corporation\u2019s pri\u00adcing, mar\u00adke\u00adting and reba\u00adting pro\u00adgrams, pro\u00adduct bund\u00adling, stan\u00addard set\u00adting, new pro\u00adduct intro\u00adduc\u00adtions or other acti\u00advi\u00adties may nega\u00adtively impact the Company\u2019s plans; that the Com\u00adpa\u00adny will requi\u00adre addi\u00adtio\u00adnal fun\u00adding and may be unable to rai\u00adse suf\u00adfi\u00adci\u00adent capi\u00adtal on favorable terms, or at all; that cus\u00adto\u00admers stop buy\u00ading the Company\u2019s pro\u00adducts or mate\u00adri\u00adal\u00adly redu\u00adce their ope\u00adra\u00adti\u00adons or demand for its pro\u00adducts; that the Com\u00adpa\u00adny may be unable to deve\u00adlop, launch and ramp new pro\u00adducts and tech\u00adno\u00adlo\u00adgies in the volu\u00admes that are requi\u00adred by the mar\u00adket at matu\u00adre yields on a time\u00adly basis; that the company\u2019s third-par\u00adty foundry sup\u00adpli\u00aders will be unable to tran\u00adsi\u00adti\u00adon the Company\u2019s pro\u00adducts to advan\u00adced manu\u00adfac\u00adtu\u00adring pro\u00adcess tech\u00adno\u00adlo\u00adgies in a time\u00adly and effec\u00adti\u00adve way or to manu\u00adfac\u00adtu\u00adre the Company\u2019s pro\u00adducts on a time\u00adly basis in suf\u00adfi\u00adci\u00adent quan\u00adti\u00adties and using com\u00adpe\u00adti\u00adti\u00adve pro\u00adcess tech\u00adno\u00adlo\u00adgies; that the Com\u00adpa\u00adny will be unable to obtain suf\u00adfi\u00adci\u00adent manu\u00adfac\u00adtu\u00adring capa\u00adci\u00adty or com\u00adpon\u00adents to meet demand for its pro\u00adducts or will not ful\u00adly uti\u00adli\u00adze the Company\u2019s pro\u00adjec\u00adted manu\u00adfac\u00adtu\u00adring capa\u00adci\u00adty needs at GLOBALFOUNDRIES<\/span> Inc. (GF<\/span>) micro\u00adpro\u00adces\u00adsor manu\u00adfac\u00adtu\u00adring faci\u00adli\u00adties; that the Company\u2019s requi\u00adre\u00adments for wafers will be less than the fixed num\u00adber of wafers that we agreed to purcha\u00adse from GF<\/span> or GF<\/span> encoun\u00adters pro\u00adblems that signi\u00adfi\u00adcant\u00adly redu\u00adce the num\u00adber of func\u00adtion\u00adal die the Com\u00adpa\u00adny recei\u00adves from each wafer; that the Com\u00adpa\u00adny is unable to suc\u00adcessful\u00adly imple\u00adment its long-term busi\u00adness stra\u00adtegy; that the Com\u00adpa\u00adny inac\u00adcu\u00adra\u00adte\u00adly esti\u00adma\u00adtes the quan\u00adti\u00adty or type of pro\u00adducts that its cus\u00adto\u00admers will want in the future or will ulti\u00adm\u00adate\u00adly end up purcha\u00adsing, resul\u00adting in excess or obso\u00adle\u00adte inven\u00adto\u00adry; that the Com\u00adpa\u00adny is unable to mana\u00adge the risks rela\u00adted to the use of its third-par\u00adty dis\u00adtri\u00adbu\u00adtors and add-in-board (AIB<\/span>) part\u00adners or offer the appro\u00adpria\u00adte incen\u00adti\u00adves to focus them on the sale of the Company\u2019s pro\u00adducts; that the Com\u00adpa\u00adny may be unable to main\u00adtain the level of invest\u00adment in rese\u00adarch and deve\u00adlo\u00adp\u00adment that is requi\u00adred to remain com\u00adpe\u00adti\u00adti\u00adve; that the\u00adre may be unex\u00adpec\u00adted varia\u00adti\u00adons in mar\u00adket growth and demand for the Company\u2019s pro\u00adducts and tech\u00adno\u00adlo\u00adgies in light of the pro\u00adduct mix that it may have available at any par\u00adti\u00adcu\u00adlar time; that glo\u00adbal busi\u00adness and eco\u00adno\u00admic con\u00addi\u00adti\u00adons, inclu\u00adding con\u00adsu\u00admer PC<\/span> mar\u00adket con\u00addi\u00adti\u00adons, will not impro\u00adve or will wor\u00adsen; and the effect of poli\u00adti\u00adcal or eco\u00adno\u00admic insta\u00adbi\u00adli\u00adty, dome\u00adsti\u00adcal\u00adly or inter\u00adna\u00adtio\u00adnal\u00adly, on our sales or sup\u00adp\u00adly chain. Inves\u00adtors are urged to review in detail the risks and uncer\u00adtain\u00adties in the Company\u2019s Secu\u00adri\u00adties and Exch\u00adan\u00adge Com\u00admis\u00adsi\u00adon filings, inclu\u00adding but not limi\u00adt\u00aded to the Quar\u00adter\u00adly Report on Form 10\u2011Q for the quar\u00adter ended Sep\u00adtem\u00adber 28, 2013.<\/span><\/p>\n

AMD<\/span>, the AMD<\/span> Arrow logo and Rade\u00adon are trade\u00admarks of Advan\u00adced Micro Devices, Inc.Other names are for infor\u00adma\u00adtio\u00adnal pur\u00adpo\u00adses only and may be trade\u00admarks of their respec\u00adti\u00adve owners.<\/em><\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

SUNNYVALE<\/span>, CA<\/span> \u2014 (Mar\u00adket\u00adwired) \u2014 11\/12\/13 \u2014 AMD<\/span> (NYSE<\/span>: AMD<\/span>) today announ\u00adced that the com\u00adpa\u00adny and its sub\u00adsi\u00addia\u00adry, AMD<\/span> Inter\u00adna\u00adtio\u00adnal Sales &<\/span> Ser\u00advice, Ltd. (coll\u00adec\u00adtively, the \u201cBor\u00adro\u00adwers\u201d), have ente\u00adred into a loan and secu\u00adri\u00adty agree\u00adment for a prin\u00adci\u00adpal amount up to $500 mil\u00adli\u00adon (the \u201cSecu\u00adred Revol\u00adving Line of Cre\u00addit\u201d) with a group of len\u00adders and Bank of Ame\u00adri\u00adca, N.A. acting as agent for the len\u00adders. (\u2026) Wei\u00adter\u00adle\u00adsen \u00bb<\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-5553","post","type-post","status-publish","format-standard","hentry","category-pressemitteilungen","entry"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/5553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/comments?post=5553"}],"version-history":[{"count":2,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/5553\/revisions"}],"predecessor-version":[{"id":5555,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/5553\/revisions\/5555"}],"wp:attachment":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/media?parent=5553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/categories?post=5553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/tags?post=5553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}