Ramtron secures $6 million term loan from Silicon Valley bank

COLORADO SPRINGS, USA: US semiconductor maker Ramtron International Corp., a leading developer and supplier of ferroelectric-based low-power memory and integrated semiconductor products, has secured a $6.0 million loan from Silicon Valley Bank to strengthen its working capital position as the company makes the remaining capital and development investments in its current IBM foundry project.

The four-year term loan has a fixed rate of 6.5% and is supplemental to the company’s existing $6 million line of credit. As of July 1, 2010, the company does not have an outstanding balance on the line of credit.

“To-date, we have funded our IBM foundry project with a combination of capital lease arrangements and our own cash,” said Bill Staunton, Ramtron’s CEO. “This new term loan from Silicon Valley Bank will allow us to strengthen our working capital under favorable terms and enhance our flexibility as we make the remaining planned investments in our current foundry project with IBM.”