Freescale set Monday lender call for $2.72 billion term loan repricing

By Paul A. Harris

Portland, Ore., Feb. 21 - Freescale Semiconductor, Inc. will participate in a lender call at 11 a.m. ET on Monday to discuss a proposed repricing deal.

The new tranche will be a $2.72 billion senior secured term loan B-4 (expected ratings B1/B).

Commitments from existing lenders are due on Thursday. Commitments from new lenders are due on Friday.

Talk is Libor plus 325 basis points at par with a 1% Libor floor, a 101 soft call six months from closing and 1% annual amortization.

Citigroup, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley are the joint bookrunners.

The deal will come with the same covenant package as that of the existing credit agreement.

The Austin, Texas-based semiconductor company plans to use the proceeds to refinance its existing term loan B-3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.