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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: joe who wrote (3205)	12/16/1998 11:47:00 PM
From: Tim Luke	of 90042

Related Quotes TSM 13 15/16 -5/8 delayed 20 mins - disclaimer Wednesday December 16, 11:30 pm Eastern Time Taiwan Semiconductor seeks US$80 mln loan HONG KONG, Dec 17 (Reuters) - Taiwan microchip giant Taiwan Semiconductor Manufacturing Co Ltd (TSMC) has appointed two banks to arrange a US$80 million syndicated loan, banking sources said on Wednesday. BA Asia and Credit Agricole Indosuez were mandated to arrange the five-year deal and have fully underwritten the facility. This would be the first time TSMC has tapped the international debt syndications market for funding after it raised a US$468 million letter of credit via BA Asia in September 1997. In 1998, it issued debt only in the domestic Taiwan dollar market, bankers said. The loan is to be repaid in semi-annual instalments after three years' grace. The average life is three and a half years. Proceeds are for working capital for an investment in the United States, a source close to the deal said. He said launch of syndication was not expected until January. TSMC said in early December it was increasing its stake in WaferTech, a U.S. joint-venture integrated circuit company, to 67.56 percent from 57.23 percent. TSMC has a listing of American Depositary Receipts on Wall Street and is the world's leading manufacturer of made-to-order ''foundry'' microchips.

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