Cypress preps launch of $1.07 billion credit facility for Wednesday

By Sara Rosenberg

New York, Feb. 7 – Cypress Semiconductor Corp. will hold a lender call at 11 a.m. ET on Wednesday to launch a $1,073,750,000 senior secured credit facility, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

The facility consists of a $540 million revolver, a $95 million term loan A and a $438,750,000 term loan B, the source said.

Proceeds will be used to amend the existing senior secured credit facility and reprice the term loan A due 2020 and term loan B due 2021.

Cypress is a San Jose, Calif.-based manufacturer of mixed-signal integrated circuits.

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