Toshiba Memory Holdings to Implement 1.2 Trillion Yen Financing Through Preferred Stock and Loans
The new financing will be used to refinance loans totaling of 600 billion yen from its main financial banks for the acquisition of Toshiba Memory Corporation last June by K.K. Pangea, a special-purpose company formed by a consortium led by Bain Capital Private Equity, LP. The company will also reorganize its capital structure through moves including early redemption of existing non-convertible-bond-type preferred stock.
Toshiba Memory Holdings will continue to enhance its competitiveness by deploying various financial measures going forward. This will include implementing cutting-edge R&D targeted at flash memory and responding to promising market trends with strategic capital investments in its “K1” manufacturing facility in Kitakami, Iwate Prefecture, Japan.
About Toshiba Memory
Toshiba Memory Group, a world leader in memory solutions, is dedicated to the development, production and sales of flash memory and SSDs. In April 2017, Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Toshiba Memory pioneers cutting-edge memory solutions and services that enrich people‘s lives and expand society’s horizons. The company's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers. For more information on Toshiba Memory, please visit https://business.toshiba-memory.com/en-jp/
View source version on businesswire.com: https://www.businesswire.com/news/home/20190531005313/en/
Website: https://business.toshiba-memory.com/en-j...
Contact
Toshiba Memory Holdings Corporation
Public Relations & Investors Relations
Kota Yamaji
+81-3-6478-2319
tmchq-tmchd-info@ml.toshiba.co.jp
This news is a press release provided by Toshiba Memory Holdings Corporation.
-
2019년 9월 24일 14:02
-
2019년 9월 24일 14:00