Spreadtrum Communications (SPRD) Trading Down Over 6% On New Financing News
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Spreadtrum Communications (Nasdaq: SPRD) is trading down over 6% on a news that it received $44 million in new financing from a Chinese bank in the form of a fixed term loan.
The bank loan is unsecured and is for a term of 3 years. Interest on borrowings will be initially set at 5.4% annually, to be reset annually at the then benchmark applicable rate as set by the People's Bank of China.
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Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops and markets baseband processor solutions for the wireless communications market.
The bank loan is unsecured and is for a term of 3 years. Interest on borrowings will be initially set at 5.4% annually, to be reset annually at the then benchmark applicable rate as set by the People's Bank of China.
Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!
Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops and markets baseband processor solutions for the wireless communications market.
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