May 5, 2009 (FinancialWire) — Spreadtrum Communications, Inc. (NASDAQ: SPRD), (Current Market Cap: US$76.45 Mil.) said that its Chinese subsidiary, Spreadtrum Communications Co., Ltd., has received RMB 300 million, or around $44 million, of new financing from a Chinese bank in the form of a fixed term loan.

The bank loan is unsecured and is for a term of 3 years, according to the company. Interest on borrowings will be initially set at 5.4% annually, to be reset annually at the then benchmark applicable rate as set by the People’s Bank of China.

Spreadtrum said that interest on borrowings under this bank loan will be mostly covered by Chinese government subsidy funds.

Shanghai-based Spreadtrum Communications is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the mobile wireless communications market.

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