MaxLinear launches $350 million term loan B at Libor plus 250 bps

By Sara Rosenberg

New York, June 4 – MaxLinear Inc. launched on Friday its $350 million seven-year covenant-lite term loan B (BB-) with price talk of Libor plus 250 basis points with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Security is a first-lien on substantially all loan party personal property assets, subject to customary exclusions.

Wells Fargo Securities LLC, MUFG, BMO Capital Markets and Citizens Bank are the lead arrangers on the deal.

Commitments are due at 3 p.m. ET on June 17.

Proceeds will be used to repay a term loan A due 2023 and a term loan B due 2024.

The company also plans on getting a new $100 million revolving credit facility due 2026.

MaxLinear is a Carlsbad, Calif.-based provider of integrated, radio-frequency analog, and mixed-signal semiconductor solutions for broadband communications applications.

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