TSMC reveals debt offering for its chip manufacturing plant in the US valued at US$4.5 billion
Due to the ongoing global shortage of supplies, the Taiwan Semiconductor Manufacturing Company (TSMC) has proposed to accumulate funds for its chip manufacturing plant currently under construction in the US. According to Wccftech, the plant is intended to be a 5nm fabrication facility to equip leading tech organisations with TSMC’s latest cutting-edge technologies and chips.
TSMC Arizona, a subsidiary, announced a debt offering of US$4.5 billion in a prospectus with the US Securities and Exchange Commission (SEC). The prospectus declares how funds will be expended and notifies potential investors. The document states that the capital produced will be used for administrative purposes.
TSMC Arizona posited that the company anticipates disbursing US$12 billion to construct the chip manufacturing facility from 2021 to 2029 in Phoenix, Arizona. The facility, which started construction in April 2021, is projected to receive equipment in 2H 2022 and is estimated to begin chip production in 2024. Furthermore, on October 22, 2021, TSMC revealed that the company intends to declare its supply chain data to the US Department of Commerce by November 8, 2021.
Notably, on October 23, 2021, Wccftech reported that a water plant adjacent to the Arizona Fabrication Plant burst into flames. Fire department officials claimed that electrical welding sparked the foam in the plant and caught fire.