AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Business & Finance

TSMC to raise $9bn for expansion, open Japan subsidiary

  • Taiwan's tech firms have benefited from soaring demand for chips that go into laptops, tablets, smartphones and other products to support the work.
  • It also approved the provision of a guarantee to wholly-owned subsidiary TSMC Global for its issuance of US dollar-denominated senior unsecured corporate bonds not to exceed $4.5 billion.
Published February 9, 2021
Follow us

TAIPEI: Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said on Tuesday it would raise nearly $9 billion from the debt markets to help fund expansion and spend around $178 million to open a Japanese material research subsidiary.

The world's top contract chipmaker last month posted its best-ever quarterly profit and hiked revenue and capital spending estimates to record levels as it forecast "multiple years of growth opportunities".

Taiwan's tech firms have benefited from soaring demand for chips that go into laptops, tablets, smartphones and other products to support the work and study at home boom around the world during the COVID-19 pandemic. They are working hard too to address a shortage of chips for automakers.

In a statement after a board meeting, the company said the board had approved the issuance of unsecured corporate bonds domestically not exceeding T$120 billion ($4.29 billion).

It also approved the provision of a guarantee to wholly-owned subsidiary TSMC Global for its issuance of US dollar-denominated senior unsecured corporate bonds not to exceed $4.5 billion.

The money raised would "finance TSMC's capacity expansion and/or pollution prevention-related expenditures", it said, without elaborating.

The company said in January it expected to raise capital spending on the production and development of advanced chips to $25 billion-$28 billion this year, as much as 60% higher than the amount it spent in 2020.

In its statement on the board meeting, it said the board had approved capital appropriations of approximately $11.79 billion for fab construction, installation and upgrade of advanced technology capacity and "second quarter 2021 R&D capital investments and sustaining capital expenditures".

TSMC also said the board had approved the establishment of a wholly owned Japanese subsidiary in Japan to expand three-dimensional integrated circuit (3DIC) material research, with a paid-in capital of not more than 18.6 billion yen ($178 million).

Comments

Comments are closed.

TSMC to raise $9bn for expansion, open Japan subsidiary

Moonis’ claims on Gen Bajwa raises doubts on institution’s apolitical narrative: Sanaullah

PTI quitting provincial assemblies will be humiliating for its voters: Saad Rafiq

Russia: price cap is ‘dangerous’ and will not curb demand for our oil

Pakistan calls on interim Afghan govt to up security at Kabul embassy after attack

US unveils high-tech B-21 stealth bomber

England in charge in Rawalpindi despite Babar hundred

SBP repays $1bn bond before due date

Maj-Gen Sharif made ISPR DG

‘Won’t take IMF’s dictation’: Dar

Zelenskiy’s chief of staff: Price cap on Russian oil should be lowered to $30 a barrel