STMicroelectronics is borrowing $450m from the European Investment Bank to pay for its R&D.
The $450m loan, says ST, “supports ST’s activities in R&D and innovation related to the design and realisation of the next generation of technologies and electronic devices for applications in Power, MEMS, Microcontrollers, Advanced Analog and Healthcare. This includes the full cycle from technology R&D and product development to application solutions that include software development and systems integration.”
The loan is due to be repaid in 2022.
ST says it has repaid bond debt of $450m. ST says it expects to incur costs of $350-450m relating to closing down itsjv ST
-Ericsson. ST has credit lines worth $490m.
At the end of last year, ST said it had ‘net cash’ of $1.19bn.