Samsung plans $1 billion debt sale to fund U.S. chip plant (in Austin) [View all]

[jpak]

http://www.chicagotribune.com/business/breaking/chi-samsung-plans-1-billion-debt-sale-to-fund-us-chip-plant-20120116,0,3713665.story

Samsung Electronics said on Monday its U.S. operation plans to sell around $1 billion in bonds, its first major overseas debt sale in more than a decade, to fund its chip plant operations.

Samsung, which supplies semiconductors to Apple's iPhone and iPad tablet, is considering selling the 5-year bond to secure operational funds for its chip operations in Austin, Texas, and has sent requests for proposals to banks to manage the deal, a Samsung spokesman said.

The South Korean firm had around 22 trillion won ($19.2 billion) in cash as of end-September and mainly uses its internal cash to fund investments.

<not much more>