Marvell draws $1.75 billion from term agreement for Inphi acquisition

Chicago, April 20 – Marvell Technology Group Ltd. closed on its acquisition of Inphi Corp. on Tuesday, using a term loan from December 2020 and proceeds from a three-part offering of $2 billion of notes recently sold, according to an 8-K filing with the Securities and Exchange Commission.

The company borrowed $1.75 billion under the term credit agreement for the transaction.

Funding of the loan was subject to the consummation of the acquisition.

Marvell is a Hamilton, Bermuda-based provider of storage, networking and connectivity solutions.

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