Macom launches $688.46 million term loan B at Libor plus 225-250 bps

By Sara Rosenberg

New York, May 4 – Macom Technology Solutions Holdings Inc. launched on Thursday its $688,461,733 senior secured covenant-light term loan B due May 2024 with price talk of Libor plus 225 basis points to 250 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc. is the bookrunner on the deal. Goldman Sachs is the administrative agent.

Proceeds will be used to amend and extend an existing $588,461,733 term loan B due May 2021 and upsize the facility by $100 million for general corporate purposes.

Consents/commitments are due at 5 p.m. ET on May 11, the source added.

Macom is a Lowell, Mass.-based supplier of high-performance analog RF, microwave, millimeterwave and photonic semiconductor products.

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