Freescale Semiconductor launches amendment to allow for debt issuances, maturity extensions

By Sara Rosenberg

New York, Dec. 1 -Freescale Semiconductor Holdings I Ltd. held a conference call on Tuesday morning to launch an amendment that would allow the company to issue secured and unsecured debt as long as proceeds are used to reduce the term loan dollar-for-dollar, according to a market source.

In addition, the amendment would give the company the ability to amend and extend its credit facility at a later date.

Lenders are being offered a 7½ basis point amendment fee.

Consents are due on Monday.

Citigroup is leading the amendment.

Freescale is an Austin, Texas-based designer and manufacturer of embedded semiconductors for the automotive, consumer, industrial and networking markets.

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