Avago Technologies completes $200 million unsecured revolver

By Sara Rosenberg

New York, April 1 - Avago Technologies Ltd. closed on a new $200 million unsecured revolving credit facility according to an 8-K filed with the Securities and Exchange Commission on Friday.

Citicorp International Ltd. is the administrative agent on the deal that was completed on March 31.

Financial covenants include a maximum leverage ratio and a minimum interest coverage ratio.

There is a $100 million accordion feature.

Proceeds were used to refinance an existing $350 million revolver that was set to mature on Dec. 1 and are available for general corporate purposes.

Avago is a Singapore-based designer, developer and supplier of analog semiconductor devices.

© 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.