AMD Announces Proposed Sale And Lease-Back Of Its Singapore Facility
Ryan Martin / 4 years ago
Despite AMD’s most recent quarterly results showing a slight improvement over a long period of decline, AMD are still in a difficult financial situation. AMD has announced that it will sell and lease-back its Singapore facility to help raise much needed funds. This is similar to the deal AMD did with its Texas campus where the sale and lease-back deal helped to raise $164 million for them. That deal was done with Spear Street Capital and helped ease losses for the first quarter results of 2013.
AMD Singapore is considering selling its Singapore Facility located at 508 Chai Chee Lane, Singapore 469032 to HSBC Institutional Trust Services (Singapore) Limited. The deal would generate approximately $46 million for AMD after all the net fees and would help give AMD’s financial performance a push in the right direction. The deal would need final approval from Singapore’s JTC corporation to get the go-ahead.
This is part of AMD’s wider plan to return to at least break-even figures as fast as possible by reducing investments and capital in non-core parts of the business. AMD’s Singapore branch will continue to operate as normal and is still an important part of AMD’s global operations, employing 500 staff.
Image courtesy of AMD