National Instruments draws down on term loan for Optimal Plus buy

By Sarah Lizee

Olympia, Wash., July 6 – National Instruments Corp. fully drew down the $70 million term loan facility under its amended and restated credit agreement with Wells Fargo Bank, NA as administrative agent on June 30, according to an 8-K filing with the Securities and Exchange Commission.

The company said it elected to draw on the term loan facility to finance a portion of the $365 million purchase price payable by National Instruments under the previously announced share purchase agreement with Optimal Plus Ltd. The acquisition closed on Thursday.

Also on June 30, National Instruments drew down a $20 million portion of the $75 million revolver under the credit agreement.

The initial interest rate for both the term loan and the revolver is Libor plus 225 basis points.

National Instruments is an Austin, Tex.-based producer of automated test equipment and instrumentation software.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.