Veeco Instruments secures $150 million five-year revolver

Chicago, Dec. 16 – Veeco Instruments Inc. signed a new $150 million senior secured credit facility with a five-year tenor, according to a press release.

Interest on the facility is SOFR plus 150 basis points to 225 bps, if drawn. Currently, the company has not drawn on the facility.

The commitment fee is between 25 bps to 35 bps, based on company’s secured net leverage ratio.

“The facility provides the company with enhanced liquidity and financial flexibility to carry out our corporate objectives,” the company’s chief financial officer John Kiernan said.

HSBC Bank USA, NA is the administrative agent and collateral agent.

HSBC Bank, NA, Barclays, Santander Bank, NA and Citibank, NA are the joint lead arrangers and joint bookrunners with Silicon Valley Bank as an additional lender.

Morrison & Foerster LLP acted as counsel to Veeco.

Veeco Instruments is a Plainview, N.Y.-based manufacturer of semiconductor process equipment.

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