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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

S. Korea’s SK Hynix aims to raise about $1 bln in dollar deal -sources

Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo
Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016... Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo
Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo
Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016... Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo

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According to three individuals with firsthand knowledge of the situation, South Korea’s SK Hynix (000660. KS), the world’s second-largest memory chipmaker, plans to raise around $1 billion in a dollar bond sale.

According to SK Hynix, the issue amount will be established later based on market conditions. A term sheet that Reuters accessed shows that the company has chosen eight investment banks to work on the deal, which could have terms of three to five years.

SK Hynix reported 8.1 trillion won ($6.19 billion) in combined operational losses in the first three quarters of 2023, owing to a sustained slump in demand for commodity chips used in smartphones and laptops.

However, memory chip costs are projected to rebound this year as chipmakers trim output. At the same time, SK Hynix redirects resources to maintain its advantage in high-bandwidth memory (HBM) chips used in generative AI. SK Hynix raised $1.7 billion in convertible bonds in April, the company’s first sale in a decade.

SK Hynix’s ambitious vision involves leveraging this substantial funding to forge strategic alliances and collaborations within the tech ecosystem. By establishing partnerships with key industry players, the company aims to enhance its technological capabilities, explore new market avenues, and accelerate its growth trajectory.


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