Infineon Technologies AG / Miscellaneous
21.12.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Financing Package for Qimonda Arranged
Neubiberg, Germany December 21, 2008 The German Free State of Saxony,
Qimonda AG (NYSE: QI) and Infineon Technologies AG (FSE/NYSE: IFX) today
jointly announced a financing package for Qimonda. The package includes a
Euro 150 million loan from the German Free State of Saxony, a Euro 100
million loan from a financial institution in Portugal and a Euro 75 million
loan from Infineon. Infineon currently holds a 77.5 percent equity interest
in Qimonda.
'I am highly pleased, that with the generous support of the governments of
the Free State of Saxony, the Federal Republic of Germany and the State of
Portugal, we jointly succeeded in tying up a package which provides Qimonda
with the opportunity to shape its future. This is good news for the
employees of our subsidiary Qimonda before the holiday season,' says Peter
Bauer, CEO of Infineon Technologies AG.
In spite of the extremely difficult situation of the world market and the
semiconductor industry, Infineon intends to contribute to the package with
a loan of Euro 75 million. This sum represents the maximum contribution
Infineon can possibly make in light of the economic surroundings.
In addition to the financing package announced today, Qimonda expects to
receive guarantees totaling Euro 280 million from the Federal Government of
Germany and the Free State of Saxony. Based on such guarantees, Qimonda is
already in advanced negotiations regarding additional bank financing
totaling Euro 150 million.
The availability of the total financing package is contingent upon
successful completion of the relevant national and European approval
procedures as well as on the final agreement on the detailed terms and
conditions of the various financings. The overall package is intended to
given Qimonda the chance to stabilize the company and to introduce Buried
Wordline Technology into volume production.
About Infineon
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and
system solutions addressing three central challenges to modern society:
energy efficiency, communications, and security. In the 2008 fiscal year
(ending September), the company reported sales of Euro 4.3 billion with
approximately 29,100 employees worldwide. With a global presence, Infineon
operates through its subsidiaries in the U.S. from Milpitas, CA, in the
Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is
listed on the Frankfurt Stock Exchange and on the New York Stock Exchange
(ticker symbol: IFX). Infineon currently holds a 77.5 percent equity
interest in Qimonda AG, a leading supplier of DRAM memory products. Qimonda
is separately listed on the New York Stock Exchange under the ticker symbol
'QI'.
Further information is available at www.infineon.com.
This news release is available online at www.infineon.com/press/
Contact:
Investor Relations, Tel.: +49 89 234-26655, Fax: +49 89 234-9552987
DGAP 21.12.2008
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Language: English
Issuer: Infineon Technologies AG
Am Campeon 1-12
85579 Neubiberg
Deutschland
Phone: +49 (0)89 234-26655
Fax: +49 (0)89 234-955 2987
E-mail: investor.relations@infineon.com
Internet: www.infineon.com
ISIN: DE0006231004
WKN: 623100
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) NYSE
End of News DGAP News-Service
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DGAP-Adhoc: FINANCING PACKAGE FOR QIMONDA ARRANGED
| Source: EQS Group AG