Keysight draws full $400 million on term loan at close of Ixia merger

By Marisa Wong

Morgantown, W.Va., April 18 – Keysight Technologies, Inc. borrowed $400 million under its term loan facility to finance a portion of its acquisition of Ixia that closed on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported, Keysight entered into the credit agreement on Feb. 15 for a three-year delayed-draw senior unsecured term loan.

Goldman Sachs, BNP Paribas, Barclays and Credit Suisse acted as joint lead arrangers, with Goldman Sachs as administrative agent, BNP Paribas as syndication agent and Barclays and Credit Suisse as documentation agents.

Loans bear interest at Libor plus 112.5 basis points to 200 bps, based on credit ratings, as previously noted.

Keysight also entered into a $450 million restated revolving credit agreement on Feb. 15. The revolver is priced at Libor plus 100 bps to 165 bps, depending on ratings.

Keysight is a Santa Rosa, Calif.-based electronic measurement technology company.

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