Anaren plans $235 million credit facility for buyout by Veritas

By Sara Rosenberg

New York, Nov. 27 - Anaren Inc. has received a commitment for a $235 million senior secured credit facility to help fund its purchase by Veritas Capital, according to a PREM14A filed with the Securities and Exchange Commission on Wednesday.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The facility consists of a $20 million revolver, a $145 million first-lien term loan and a $70 million second-lien term loan.

Under the agreement, Anaren is being acquired for $28.00 per share in cash, or about $381 million.

Other funds for the transaction will come from up to $155 million in equity.

Closing is subject to shareholder approval and customary regulatory and other conditions. The transaction is not subject to any financing conditions.

Anaren is a Syracuse, N.Y.-based designer, developer, manufacturer and seller of highly integrated microwave components, assemblies and subsystems for the wireless communications, satellite communications and defense electronics markets.

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