Fairchild Semiconductor $500 million facility to launch May 31

By Sara Rosenberg

New York, May 23 - Fairchild Semiconductor International Inc. is scheduled to hold a bank meeting on May 31 to launch its proposed $500 million credit facility, according to a market source.

Deutsche Bank and Bank of America are the lead banks on the deal, with Deutsche the left lead.

The facility consists of a $400 million term loan B and a $100 million revolver, the source said.

Proceeds will be used to refinance existing bank debt.

Fairchild is a South Portland, Maine, supplier of power analog, power discrete and nonpower semiconductor services.

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