LONDON – Struggling DRAM maker ProMOS Technologies Inc. has agreed a deal in principle with more than 30 creditor banks to swap half of its NT$57 billion (about $2 billion) of debt for equity, according to a Taiwan Economic News report.
Two other Taiwan DRAM companies – Inotera and Nanya – are also struggling, but ProMOS appears to have a bail-out plan similar to that which saved Hynix Semiconductor from failing in 2002.
The bail-out includes: a plan to increase ProMOS capitalization to NT$15 billion (about $520 million); slashing the company's loan interest to 0.1 percent from 3.5 percent per annum; and a promise to set up a new management team next year, the report said.
However, the bail-out plan is subject to approval of each bank's board of directors. This could come through early in August, the report said.
David Patterson, known for his pioneering research that led to RAID, clusters and more, is part of a team at UC Berkeley that recently made its RISC-V processor architecture an open source hardware offering. We talk with Patterson and one of his colleagues behind the effort about the opportunities they see, what new kinds of designs they hope to enable and what it means for today’s commercial processor giants such as Intel, ARM and Imagination Technologies.