August 31, 2021

TOKYO, Japan, August 31, 2021―  Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced its decision to draw the loan under the Facilities Agreement (“Loan”), the borrowing limit of which is 665.4 billion yen as announced in the press release “Execution of Amendment Agreement which Amends the Facilities Agreement for Dialog Acquisition” published on June 30, 2021. The details of the Loan are as follows:

1. Background of the drawdown of the Loan

As announced in the August 31, 2021 press release “Renesas Completes Acquisition of Dialog Semiconductor”, Renesas has successfully completed the acquisition of the entire issued and to be issued share capital of Dialog Semiconductor Plc (“Dialog”), thereby Dialog becoming a wholly owned subsidiary of Renesas. In addition, as announced in the press release “Renesas Announces Determination of Number of New Shares to be Issued by Way of Third-Party Allotment” published on June 23, 2021, as a result of fundraising through the issuance of new shares, Renesas raised 222.6 billion yen in proceeds. With the proceeds and the cash on hand available to Renesas, it has been determined that Renesas will draw the Loan of 270.0 billion yen in total as necessary funding for the acquisition.

2. Overview of the Loan

(1) Total amount of the Loan:                  270.0 billion yen

(2) Drawdown date:                              August 31, 2021

(3) Repayment date:                        February 7, 2022

(4) Participating financial institutions:      MUFG Bank, Ltd. and Mizuho Bank, Ltd.

3. Future expectations

Renesas will make an announcement in a timely manner once any material impact is made to its business performance following drawdown of the Loan. Furthermore, the funds to be obtained through the Loan is continuously intended to be converted to various long-term funds.

 

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.

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