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8-K - FORM 8-K - TRIDENT MICROSYSTEMS INC | f58230e8vk.htm |
Exhibit 99.1
Press Release
TRIDENT MICROSYSTEMS ESTABLISHES
$40 MILLION CREDIT FACILITY WITH BANK OF AMERICA
$40 MILLION CREDIT FACILITY WITH BANK OF AMERICA
SUNNYVALE,
Calif., Feb. 10, 2011 Trident Microsystems, Inc. (Nasdaq: TRID), a leader in
high-performance semiconductor system solutions for the connected home, today announced that it has
established a $40 million three-year credit facility with Bank of America N.A. (acting through its
Singapore Branch) as Agent. The company intends to use the asset-based, revolving facility
primarily to support its working capital requirements. Currently, there are no loans outstanding
under the facility.
Under the terms of the credit agreement, Trident Microsystems (Hong Kong) Ltd., as borrower, may
access credit based upon a certain percentage of its eligible accounts receivable outstanding,
subject to eligibility criteria, minimum liquidity requirements, certain covenants, limits on
borrowing availability, and other terms and conditions as defined in the credit agreement.
Forward-Looking Information
This press release contains forward-looking statements, including statements regarding the
companys ability to access its credit and the expected use of proceeds of the companys credit
facility. These statements are subject to risks and uncertainties and actual results could differ
materially from the statements made. These risks and uncertainties include the size and
availability of the borrowing base and therefore the amount of credit that is actually available to
the company, the companys ability to maintain adequate liquidity, and its ability to comply with
covenants and other requirements of the loan agreement and related documents. Additional factors
that may affect Tridents business are described in detail in Tridents filings with the Securities
and Exchange Commission available at http://www.sec.gov.
About Trident Microsystems, Inc.
Trident Microsystems, Inc., with headquarters in Sunnyvale, California, is a leading force in the
digital home entertainment market, delivering an extensive range of platform solutions that enhance
the consumer experience in the Connected Home. As one of the top-three semiconductor providers to
both the TV and set-top box markets, Tridents solutions can be found in the products of leading
OEMs and channel partners worldwide. The companys extensive IP portfolio of more than 2,000
patents has been driving key innovations in image quality, 3D TV, low power consumption, and 45nm
designs. For further information about Trident and its products, please consult the Companys web
site: www.tridentmicro.com.
NOTE: Trident is a trademark of Trident Microsystems, Inc. All other company and product names are
trademarks and/or registered trademarks of their respective owners. Features, pricing, availability
and specifications are subject to change without notice.
TRID-IR
For More Information
John Swenson
Director, Corporate Finance & Investor Relations
Tel: 408-962-8252
Email: john.swenson@tridentmicro.com
Web site: http://www.tridentmicro.com
John Swenson
Director, Corporate Finance & Investor Relations
Tel: 408-962-8252
Email: john.swenson@tridentmicro.com
Web site: http://www.tridentmicro.com