SUNNYVALE, CA and AUSTIN, TX–(Marketwire – Mar 12, 2013) – AMD ( NYSE : AMD ) today appear that it has entered into an acceding to advertise and lease-back its “Lone Star Campus” amid at 7171 Southwest Parkway in Austin, Texas to 7171 Southwest Parkway Holdings, LP, an associate article of absolute acreage advance aggregation Spear Street Capital. Upon closing, net of all fees, the auction is accepted to accomplish about $164 actor in cash. The gain are accepted to be reflected in the company’s aboriginal division 2013 banking statements aback appear on Apr. 18, 2013. At closing, AMD will access into a 12-year charter with an addendum advantage to abide its operations on the campus. The transaction is accepted to aing on or about Mar. 26, 2013.
The auction of AMD’s Austin campus is in befitting with the company’s action to abate investments and basic in non-core genitalia of the business, including absolute estate. In 1998, the aggregation awash and currently leases-back its address in Sunnyvale, Calif. In 2008, it awash and currently leases-back its above armpit in Markham, Ontario, Canada. Recently, AMD additionally began business the auction of its Building 3 acreage amid at 5900 East Ben White Boulevard in Austin, Texas. Building 3 is a abundantly alone acreage whose operations and advisers will be circumscribed at added AMD sites.
“As we displace and restructure AMD for abiding success, we are demography a cardinal of accomplish advised to optimize our business and monetize assets,” said Devinder Kumar, arch banking administrator of AMD. “The auction of our Austin campus will alleviate a cogent bulk of capital, while the multi-year charter aback of our Austin campus reconfirms our abiding allegation to the burghal that so abounding AMD advisers accept alleged home aback 1979.”
The aggregation expects to almanac a appropriate allegation of about $50 actor in the aboriginal division of 2013 primarily accompanying to the aberration amid the auction gain and the accustomed amount of the property. AMD employs about 1,900 bodies in Austin.
About AMD AMD ( NYSE : AMD ) is a semiconductor architecture innovator arch the aing era of active agenda adventures with its ground-breaking AMD Accelerated Processing Units (APUs) that ability a avant-garde ambit of accretion devices. AMD’s server accretion articles are focused on active industry-leading billow accretion and virtualization environments. AMD’s above cartoon technologies are begin in a array of solutions alignment from d consoles, PCs to supercomputers. For added information, appointment www.amd.com.
This absolution contains avant-garde statements apropos AMD, the cleanup of a sale- and lease-back transaction, the accepted banknote generated from the transaction, the appropriate allegation accompanying to the transaction, and its action to abate investments and basic in non-core genitalia of the business, including absolute estate, which are fabricated pursuant to the safe anchorage accoutrement of the Private Securities Litigation Reform Act of 1995. Avant-garde statements are frequently articular by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects,” and added agreement with agnate meaning. Investors are cautioned that the avant-garde statements in this absolution are based on accepted beliefs, assumptions and expectations, allege alone as of the date of this absolution and absorb risks and uncertainties that could account absolute after-effects to alter materially from accepted expectations. Risks accommodate the achievability that Intel Corporation’s pricing, business and rebating programs, artefact bundling, accepted setting, new artefact introductions or added activities targeting the company’s business will anticipate accomplishment of the company’s accepted plans; the aggregation will be clumsy to develop, barrage and access new articles and technologies in the volumes and mix appropriate by the bazaar and at complete yields on a appropriate basis; GLOBALFOUNDRIES will be clumsy to accomplish the company’s articles on a appropriate base in acceptable quantities and application aggressive technologies; the aggregation will be clumsy to access acceptable accomplishment accommodation or apparatus to accommodated appeal for its articles or will under-utilize its allegation with account to GLOBALFOUNDRIES’ chip accomplishment facilities; the aggregation will be clumsy to alteration its articles to avant-garde accomplishment action technologies in a appropriate and able way; all-around business and bread-and-er altitude will not abide to advance or will aggravate consistent in lower than currently accepted demand; appeal for computers and customer electronics articles and, in turn, appeal for the company’s articles will be lower than currently expected; barter stop affairs the company’s articles or materially abate their appeal for its products; the aggregation will crave added allotment and may not be able to accession funds on favorable agreement or at all; there will be abrupt variations in bazaar advance and appeal for the company’s articles and technologies in ablaze of the artefact mix that it may accept accessible at any accurate time or a abatement in demand; and the aggregation will be clumsy to advance the akin of advance in analysis and development that is appropriate to abide competitive. Investors are apprenticed to analysis in detail the risks and uncertainties in the company’s Securities and Exchange Commission filings, including but not bound to the Annual Report on Form 10-K for the year concluded December 29, 2012.
AMD and the AMD Arrow logo are trademarks of Avant-garde Micro Devices, Inc. Added names are for advisory purposes alone and may be trademarks of their corresponding owners.
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