Published in News

AMD gets a quick loan

by on13 November 2013

Lend us a tenner until Friday

Cash strapped chipmaker AMD has had to apply for a short term loan to help the company slow its financial decline. The outfit has raised half-billion dollar line of finance from a group of lenders, with Bank of America acting as agent.

All this is happening as AMD struggles with the economic downturn and a decline in PC sales. The outfit is good for the cash. After all it is focusing on game consoles and associated royalties, which at its fiscal third-quarter earnings saw the business unit increase in revenue by 110 percent on the previous quarter, and 96 percent year-over-year.

AMD said the proceeds of the five-year secured revolving line of credit, ending November 2018, which retires may be used for general corporate services, such as working capital needs.

Rate this item
(0 votes)

Read more about: