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Advanced Micro Devices Inc's Subsidiary Completes Sale And Lease-Back Of AMD Singapore Facility To Sabana Shari'ah Compliant Industrial Real Estate Investment Trust

Thursday, 26 Sep 2013 07:00am EDT 

Advanced Micro Devices Inc (AMD) announced that its Singapore subsidiary, Advanced Micro Devices (Singapore) Pte Ltd. (AMD Singapore), has completed a transaction 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 generated proceeds of approximately SGD59 million Singapore dollars (USD46 million) net of all fees. AMD will record a gain of approximately USD16 million related to the transaction in the third quarter of 2013. AMD Singapore will continue its operations in a portion of the Singapore facility and has commenced a 10-year lease agreement with Sabana REIT with extension options. 

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