Amphenol to upsize revolver to $1 billion using accordion feature

By Sara Rosenberg

New York, Oct. 11 - Amphenol Corp. plans to increase its five-year unsecured revolving credit facility to $1 billion from $750 million, through the exercise of its $250 million accordion feature, company officials said in a recent conference call.

Proceeds from the additional liquidity will be used to fund the acquisition of the Connection Systems division of Teradyne Inc. for about $390 million in cash.

Pro forma for the transaction, availability under the revolver will be greater than $130 million, officials added in the call.

The acquisition is subject to regulatory approval and customary closing conditions and is expected to close in the fourth quarter.

Amphenol is a Wallingford, Conn., producer of electronic and fiber optic connectors, cable and interconnect systems. Teradyne Connection Systems is a Nashua, N.H., supplier of high-speed, high-density, printed circuit board interconnect products.

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