Synaptics plans $300 million credit facility for Renesas purchase

By Sara Rosenberg

New York, June 10 – Synaptics Inc. has received a commitment for a $300 million senior secured credit facility to help fund its acquisition of Renesas SP Drivers Inc., according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Wells Fargo is the lead bank on the deal.

The facility consists of a $150 million revolver and $150 million of term loans.

Under the agreement, Renesas, a Tokyo, Japan-based provider of high performance display drivers to the consumer device OEMs, for JPY48.5B (about $475 million).

Other funds for the transaction will come from cash on hand.

Closing is expected in the fourth quarter, subject to customary conditions and regulatory reviews.

Synaptics is a San Jose, Calif.-based developer of human interface services.

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