ADC obtains up to $75 million revolving credit facility via Wachovia

By Jennifer Chiou

New York, Dec. 18 - ADC Telecommunications Inc. entered into a loan and security agreement, providing for an up to $75 million revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Wachovia Bank, NA was the lender, administrative and collateral agent, syndication agent, lead arranger and lead bookrunner.

The loan expires on March 15, 2013 and may be increased to up to $100 million.

Funds drawn under the revolver will bear interest at Libor plus 350 basis points.

Proceeds are earmarked for any business purpose, including securing hedging obligations and letters of credit.

ADC is an Eden Prairie, Minn.-based provider of connections for wireline, wireless, cable, broadcast and enterprise networks.

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