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TSMC’s water plant in Taiwan catches fire and the TSMC Arizona plans to sell debt worth $4.5 Billion

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To deal with the global chip shortage, the Taiwan Semiconductor Manufacturing Company (TSMC) plans to raise funds for its new chipmaking facility in the United States. TSMC provides its products to some of the world’s largest companies, and the Taiwanese semiconductor foundry’s latest chip manufacturing technologies have placed it at the forefront of the industry. The company is currently the world’s most sought-after chip manufacturer.

In recent news, the chip manufacturer recently battled a fire at the site where its chipmaking facility is located for the leading-edge 5-nanometer (nm) chip process. The fire reportedly started at an under-construction water processing facility but fortunately, it is now controlled and the damage is kept to a minimum.

TSMC’s Arizona plant is overseen by the company’s subsidiary registered in the state and it filed a prospectus with the Securities and Exchange Commission (SEC) earlier this week. In it, the subsidiary stated its plans to sell debt worth $4.5 billion.

The prospectus states that the funds generated will be used for administrative purposes by stating that:

The estimated net proceeds of the sale of the Notes after deducting estimated underwriting discounts and commissions and other expenses payable in connection with the offering of such notes will be approximately US$4,456.3 million, which we intend to use for general corporate purposes.

The chip manufacturer also expects equipment in the Arizona fabrication plant to be in place by the second half of next year. This brings the readiness of the facility for production much closer.

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According to TSMC Arizona:

TSMC Arizona Corporation, a corporation incorporated under the laws of the State of Arizona, the U.S.A. in November 2020, or the Issuer, is a wholly-owned subsidiary of TSMC Limited. TSMC Arizona is expected to be primarily engaged in the manufacture and sale of integrated circuits. TSMC Arizona plans to spend approximately US$12 billion from 2021 to 2029 to build and operate an advanced semiconductor manufacturing facility, Fab 21, in the City of Phoenix area. Construction of the fab commenced in April 2021 and equipment is expected to be moved into the fab during the second half of 2022. TSMC Arizona targets to commence commercial production in 2024.

the water plant which was being built for TSMC back in Taiwan in the same locality as its 5nm chip fab caught fire and the fire led to two workers from the scene being rescued, and an early investigation by the local fire department found that the foam in the plant area caught fire from sparks generated through electrical welding.

source

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Avatar of Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.

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