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To: Dan3 who wrote (138819)7/8/2001 7:41:57 AM
From: jackrabbit  Read Replies (1) of 186894
 
Take a closer look please.

AMD 1Q '01 10-Q:

Net cash provided by financing activities was $338 million during the first quarter of 2001. Major uses of cash during the period included $3 million in payments on debt and capital lease obligations offset by $320 million in proceeds from Dresden FAB 30 borrowing activities, $10 million in proceeds from Dresden FAB 30 foreign grants and subsidies and $9 million in proceeds from issuance of stock.

Also:

In addition to support from AMD, the consortium of banks referred to above has made available $687 million in loans to AMD Saxony to help fund Dresden Fab 30 project costs. As of April 1, 2001, all of the available loans were outstanding. (AMD 1Q '01 10-Q)

In addition to support from AMD, the consortium of banks referred to above has made available $750 million in loans to AMD Saxony to help fund Dresden Fab 30 project costs. AMD Saxony had $375 million of such loans outstanding as of December 31, 2000. (AMD FY '00 10-K)

Finally, AMD has not bought back the notes you referenced. The redemption will take place on August 1, 2001. AMD will likely issue more debt to redeem these notes -- refinancing the 11% (junk bond yield) notes with something cheaper.
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