Temescal

Semigas

CLICK HERE: free registration for Semiconductor Today and Semiconductor Today ASIACLICK HERE: free registration for Semiconductor Today and Semiconductor Today ASIA

Join our LinkedIn group!

Follow ST on Twitter

IQE

13 October 2014

Infineon completes syndication of EUR 1.55bn loan facilities for acquisition of International Rectifier

Infineon Technologies AG of Munich, Germany says it has fully syndicated its EUR 1.55bn committed acquisition loan facilities. Proceeds from the loan facilities, together with cash-on-hand will be used to fund the acquisition of International Rectifier Corp (IR) of El Segundo, CA, USA, which was announced late in August. The estimated USD 3bn acquisition of International Rectifier is expected to close late in the calendar year 2014 or early in the calendar year 2015.

“The significant oversubscription by a diversified syndicate of banks, as well as the long term loan commitment reflect the trust of the banks in the prospects of Infineon and this important acquisition,” says Dominik Asam, Chief Financial Officer of Infineon Technologies AG.

The EUR 800m and USD 934m facilities, which were underwritten by Bank of America Merrill Lynch International Limited and Citibank, N.A., London Branch have terms of up to 2 years and 5 years respectively.

The loan facilities were syndicated among 13 domestic and international banks. Bank of America Merrill Lynch International Limited and Citigroup Global Markets Limited acted as coordinators and bookrunners on the transaction, which was substantially oversubscribed, thus leading to a corresponding scale-back of the bank commitments.

The syndication of the acquisition loan facilities is Infineon’s largest to date, and its first in 10 years.

Tags: Infineon International Rectifier GaN-on-silicon

Visit: www.irf.com

Visit: www.infineon.com

Share/Save/Bookmark
See Latest IssueRSS Feed

AXT