NXP Semiconductors Draws $400M Under Its Revolving Credit Facility

(Business News & Technology News, 26 Nov 2008)

NXP Semiconductors has announced that it is drawing $400 million under its available revolving credit facility.

"In view of the current global financial turmoil we are drawing $400 million under our revolving credit facility. This is a proactive financial decision in order to secure availability of this facility in a turbulent financial market environment," Karl-Henrik Sundstrom, Chief Financial Officer of NXP.

At the end of Q3, NXP's cash position amounted to $1.535 billion. With the proceeds from the drawdown, NXP further strengthens its already strong liquidity position.

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