Samsung to Raise Cash for Texas Plant Via Bond Sale
Samsung Electronics's U.S. operations today indicated that it is preparing to sell up to $1 billion in five-year bonds so that it can raise the funds it needs to operate its chip plant in Austin, Texas. Samsung needs financial institution support to run the sale and has sent proposals to several banks. Reuters reports that this would be Samsung's first major debt sale in more than 10 years. Samsung wants to increase its ability to produce chips and OLED screens for mobile devices.
Gotta love Texas!