| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Lattice Semiconductor Corp. > News item |
Lattice Semiconductor gets $350 million five-year secured revolver
By Mary-Katherine Stinson
Lexington, Ky., Sept. 2 – Lattice Semiconductor Corp. entered into an amended and restated credit agreement on Thursday that provides for a $350 million five-year secured revolving loan facility, according to an 8-K filing with the Securities and Exchange Commission.
The revolver has a $30 million sublimit for letters of credit and a $15 million sublimit for swingline loans.
Lattice may request to increase revolving commitments or term loans by up to $150 million, so long as its leverage ratio would not exceed a certain threshold.
Borrowings bear interest at SOFR plus a margin that ranges from 125 basis points to 200 bps, based on leverage. The commitment fee is between 20 bps and 30 bps.
Interest will start at SOFR plus 125 bps and the commitment fee will initially be 20 bps.
Wells Fargo Bank, NA is the administrative agent, swingline lender and issuing lender.
Wells Fargo Securities, LLC, Citibank, NA, Keybank, NA, Umpqua Bank and U.S. Bank NA are the joint lead arrangers and bookrunners.
City National Bank, KeyBank NA, Umpqua Bank and U.S. Bank NA are the co-syndication agents.
Initial borrowings were used to repay all outstanding term loans under the company’s existing credit agreement and to pay fees and expenses of the credit agreement. Proceeds of the revolving loans may be used for working capital and general corporate purposes.
At closing there was $150 million total principal of revolving loans outstanding under the agreement.
This new agreement amends and restates the company’s previous credit agreement dated as of May 17, 2019.
Lattice Semiconductor is a Hillsboro, Ore.-based provider of programmable connectivity solutions.
© 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.