Tower-Panasonic JV Secures Additional $70M Loan

December 8, 2015 | TowerJazz Panasonic Semiconductor Company, a joint venture between Israeli Tower Semiconductor and Japanese electronic giant Panasonic, has secured a five year loan from leading Japanese banks, Mitsui Leasing, Sumitomo Mitsui, and Showa Leasing. The long-term loan is valued at 8.5 billion Japanese Yen (approximately $70 million) and is in addition to the initial 8.8 billion Japanese Yen loan, which will be repaid commencing in 2016. Founded in 1993 and run by CEO Eyal Yitzhar, Tower Semiconductor develops and manufactures high dynamic range image sensors (CIS and CCD), integrated power devices (BCD, SOI, and LDMOS) and high frequency silicon RFCMOS.