Samsung Electronics to borrow $16 bln from Samsung Display unit
Technology
Samsung Electronics to borrow $16 bln from Samsung Display unit
SEOUL (Reuters) - Samsung Electronics (005930. KS) plans to borrow 20 trillion won ($15.78 billion) from unit Samsung Display to use as operational funds, the tech giant said in a regulatory filing on Tuesday.
Samsung plans to borrow the funds at a 4.6% interest rate until August 2025, it said.
Samsung indicated last month it has no plan to cut investment in chips this year, despite reporting an 8-year-low profit in the December quarter driven by a sharp industry downturn.
