Silicon Laboratories to repay existing credit facility in full

By Rebecca Melvin

New York, May 27 – Silicon Laboratories Inc. plans to use about $310 million of proceeds from a notes offering to repay in full amounts outstanding under the company’s existing credit facility.

The company is pricing $500 million of new five-year convertible notes with a greenshoe of $35 million, according to a company news release.

After repaying the credit facility, the company also plans to use proceeds to buy back a portion of its 1.375% convertible senior notes due 2022.

Silicon Laboratories is an Austin, Tex.-based semiconductor company.

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