Add as a preferred source on GoogleGlobalWafers Names Micron Sole Subscriber for Up to $500 Million in Convertible Bonds
The proposed domestic private placement would carry a 0.5% annual coupon over 10 years and accompany a planned 10-year silicon wafer supply agreement.
GlobalWafers’ board approved a plan on Nov. 3 to issue up to $500 million in convertible bonds, with Micron Technology as sole subscriber, pairing the financing with a 10-year wafer deal aimed at U.S. supply-chain resilience.
The proposed domestic private placement would consist of unsecured convertible bonds with a 10-year term and a 0.5% annual coupon. GlobalWafers plans to use the proceeds to support its U.S. business.
Under the planned 10-year supply agreement, GlobalWafers would provide Micron with advanced silicon wafers to support memory demand tied to artificial intelligence, high-performance computing and data centers. GlobalWafers said the arrangement is intended to strengthen the resilience of the U.S. advanced semiconductor materials supply chain.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.