The Channel logo

News

By | Paul Kunert 17th November 2011 15:32

Banks bung hard-up Acer £315m loan

Five-year deal to get back on its feet

Troubled Acer has penned a new financing deal to cover working capital requirements and pay off a previous loan it took out to acquire Gateway.

The firm has gone through a major reshuffle of management following a loss-making year in which sluggish consumer demand caught it by surprise and resulted in an inventory pile-up.

The Taiwanese vendor said that it has inked a syndicated loan agreement of NT$15bn (£315m) with a group of banks including Citibank Taiwan, Taipei Fubon and Bank of Taiwan.

"The loan will be used to repay a previous syndicated loan arranged by Citibank in 2007, and will enhance the mid-to-long term operating capital of Acer," the PC maker said.

It added that the agreement will "facilitate Acer" for five years. ®

comment icon Read 3 comments on this article alert Send corrections

Opinion

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap
Steve Bennet, ex-Symantec CEO

Chris Mellor

Enormo security firm needs to get serious about acquisitions

Features

Windows 8.1 Update  Storeapps Taskbar
Chinese Buffet self-service
Chopping down the phone tree to scrump low-hanging fruit
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.
Big Blue's big $5bn bet adjusted, modified, reduced, back for more
Microsoft CEO Satya Nadella
Redmond needs to discover the mathematics of trust