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AMD Closes Transaction to Sell and Lease-Back Austin Campus, Generating Approximately $164 Million in Cash

Mar 26 2013 12:00AM

Marketwire

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SUNNYVALE, CA and AUSTIN, TX -- (Marketwire) -- 03/26/13 -- AMD (NYSE: AMD) today announced the successful closing of its transaction with 7171 Southwest Parkway Holdings, LP to sell and lease-back the company's "Lone Star Campus" located at 7171 Southwest Parkway in Austin, Texas. The transaction generated proceeds of approximately $164 million in cash, net of all fees, which will be reflected in the company's first quarter 2013 financial statements when reported on Apr. 18, 2013. As a part of the agreement, AMD has entered into a 12-year sublease agreement with Lantana HP, Ltd. with an extension option to continue its operations on the Lone Star Campus.

7171 Southwest Parkway Holdings, LP is an affiliate entity of real estate investment company Spear Street Capital.

Lantana HP, Ltd. is an affiliate entity of HPI Real Estate Services and Investments.

About AMD
AMD (NYSE: AMD) is a semiconductor design innovator leading the next era of vivid digital experiences with its ground-breaking AMD Accelerated Processing Units (APUs) that power a wide range of computing devices. AMD's server computing products are focused on driving industry-leading cloud computing and virtualization environments. AMD's superior graphics technologies are found in a variety of solutions ranging from game consoles, PCs to supercomputers. For more information, visit www.amd.com.

AMD and the AMD Arrow logo are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.



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Contact:
Mike Silverman
AMD Public Relations
512-602-3781
michael.silverman@amd.com

Ruth Cotter
AMD Investor Relations
408-749-3887
ruth.cotter@amd.com





Source: Marketwire


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