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MaxLinear withdraws $355 million term loan from primary market
By Sara Rosenberg
New York, Jan. 9 – MaxLinear Inc. pulled its $355 million term loan due May 2024 from the primary market because of corporate reasons, according to an informed source.
Talk on the term loan was Libor plus 225 basis points with a 0.75% Libor floor and an original issue discount of 99.875 to par.
The term loan would have included 101 soft call protection for six months.
J.P. Morgan Securities LLC was the lead bank on the deal.
Proceeds would have been used to reprice an existing term loan down from Libor plus 250 bps with a 0.75% Libor floor.
MaxLinear is a Carlsbad, Calif.-based provider of integrated radio frequency and mixed-signal integrated circuits for the connected home and wired and wireless infrastructure markets.
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