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Advanced Micro Devices Inc Announces Proposed Sale And Lease Back Of AMD Singapore Facility To Sabana Shari'ah Compliant Industrial Real Estate Investment Trust


Thursday, 22 Aug 2013 07:30pm EDT 

Advanced Micro Devices Inc announced that its Singapore subsidiary, Advanced Micro Devices (Singapore) Pte Ltd. (AMD Singapore), has entered into a conditional put-and-call option agreement to sell and lease-back its Singapore facility located at 508 Chai Chee Lane, Singapore 469032 to HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT). The transaction is expected to generate proceeds of approximately SGD59 million (USD46 million), net of all fees, which will be reflected in AMD's third quarter 2013 financial statements when reported on Oct. 17, 2013. AMD Singapore will continue its operations in a portion of the Singapore facility and has negotiated a 10-year sub-lease agreement with Sabana REIT with extension options to continue those operations. The sub-lease would be effective upon the close of the sale of the property. 

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24 Oct 2014