Diodes gets $670 million credit facilities at Libor plus 200 bps

By Sara Rosenberg

New York, June 1 – Diodes Inc. closed on $670 million of three-year secured credit facilities priced at Libor plus 200 basis points through February 2021, with a 0.75% Libor floor, according to a news release.

The facilities consist of a $150 million revolver and a $520 million term loan.

BofA Securities Inc., BBVA Securities and PNC Capital Markets acted as joint lead arrangers and joint bookrunners. Also participating in the bank syndicate are Citibank, Regions Bank, Comerica Bank, Silicon Valley Bank, HSBC Bank USA and Cadence Bank.

Proceeds will be used to refinance existing debt, ensure access to cash at a competitive rate and fund the acquisition of Lite-On Semiconductor that is expected to close in the second half of the year.

A portion of the term loan is delayed-draw for the Lite-On transaction.

Diodes is a Plano, Texas-based semiconductor company.

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