Synaptics readies launch of $600 million term loan for Tuesday

By Sara Rosenberg

New York, Oct. 7 – Synaptics Inc. is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $600 million seven-year first-lien term loan, according to a market source.

Barclays, Wells Fargo Securities LLC, MUFG and BMO Capital Markets are the joint bookrunners on the deal. CHCG is a co-manager. Wells Fargo is the administrative agent.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to fund the acquisition of DSP Group Inc. for $22.00 per share.

Closing is expected by the end of the year, subject to DSP Group shareholder approval and customary conditions.

Synaptics is a San Jose, Calif.-based provider of high performance IoT and PC semiconductor solutions. DSP is a provider of voice and wireless chipset solutions for converged communications.

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