European bank loans ST $470 million

Peter Clarke, EETimes
9/28/2010 11:05 AM EDT

LONDON – The European Investment Ban  k (EIB) has signed a 350 million euro (about $470 million) loan contract with STMicroelectronics NV in support of the company's industrial and R&D concerning next-generation semiconductor circuits.

The EIB is the bank of the European Union. Its remit is to provide mainly long-term loans to support viable private or public investment projects that realise the objectives of EU integration, cohesion and development.

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