Bond Redemption Could Spark ProMOS Bankruptcy
Sun, Feb 15th, 2009
A convertible bond redemption that could sink Taiwanese DRAM maker ProMOS Technologies will begin on Tuesday, according to a statement from the company.
ProMOS stands to become the second DRAM maker to file for bankruptcy protection if it fails to raise the funds necessary to meet early redemption of the bonds, which could total US$330 million.
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