SEOUL : South Korea's SK Hynix has raised $1.7 billion in its first convertible bond sale in a decade, as the world's second-largest memory chipmaker braces for deepening quarterly losses, hit by a sharp downturn in global semiconductor demand.
"This financing is expected to end market concerns about a short-term liquidity crunch," Kim Kwang-jin, an analyst at Hanwha Investment & Securities, wrote in a note. Analysts forecast a much worse loss in the quarter ended March 31 before an expected memory chip industry rebound in the second half of the year.
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