Micron Technology and its Singapore subsidiaries complete $800 million sale and lease-back equipment financing

Client(s) Micron Technology, Inc.

Jones Day represented Micron Technology, Inc. (MTI) and its Singapore subsidiaries, Micron Semiconductor Asia Pte. Ltd., as seller and lessee, and Micron Semiconductor Asia Capital II Pte. Ltd., as purchaser and lessor, in connection with an $800 million sale and lease-back equipment financing transaction. The facility was secured by a guaranty from MTI, a charge over the purchased equipment and an assignment of the lease of such equipment in favor of the lenders.

Singapore is home to Micron's largest manufacturing footprint with three fabrication facilities and a test and assembly facility. At these four facilities in Singapore, Micron employs more than 7,000 employees making Micron Singapore's largest private employer in the manufacturing sector.