Fairchild Semiconductor launches $475 million loan

By Sara Rosenberg

New York, May 20 - Fairchild Semiconductor launched a $475 million credit facility on Thursday, according to a syndicate source. Deutsche Bank and Fleet are the lead banks on the deal.

The facility consists of a $175 million four-year revolver with an interest rate of Libor plus 250 basis points and a $300 million five-year term loan B with an interest rate of Libor plus 300 basis points, the source said.

Proceeds will be used by the South Portland, Me. semiconductor company to retire high yield bonds.

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