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Semtech completes $400 million credit facility led by HSBC Bank
By Sara Rosenberg
New York, May 3 - Semtech Corp. closed on a new $400 million senior secured credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.
HSBC Bank acted as the lead arranger and bookrunner on the deal that was completed on May 2.
The facility consists of a $150 million term loan and a $250 million revolver, with pricing ranging from Libor plus 125 basis points to 225 bps based on leverage.
The revolver commitment fee can range from 20 bps to 45 bps, also based on leverage.
There is a $100 million accordion feature.
Proceeds were used to refinance an existing credit facility.
Semtech is a Camarillo, Calif.-based supplier of analog and mixed-signal semiconductors.
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