Samsung Electronics Plans First Dollar Debt Since 2004
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Samsung Electronics Co., the world’s largest maker of computer memory chips, plans to issue its first U.S. dollar-denominated bonds since 2004 to expand production of processors used in mobile devices including Apple Inc.’s iPhone.
The company has sent requests for proposals to banks to borrow as much as $1 billion to expand production capacity at its factory in Austin, Texas, James Chung, a Seoul-based spokesman for Samsung, said by telephone today, confirming a report in the Korea Economic Daily yesterday. The bonds will be issued by Samsung’s U.S. unit and may have maturities of five years, Chung said.