Freescale Semiconductor gets $500 million revolver

By Sara Rosenberg

New York, March 10 - Freescale Semiconductor Inc. closed on a new $500 million unsecured senior revolving credit facility due March 7, 2011, according to an 8-K filed with the Securities and Exchange Commission Friday.

Bank of America acted as bookrunner and is also administrative agent on the deal. Bank of America and Citigroup acted as joint lead arrangers. Citigroup and JPMorgan acted as co-syndication agents, and Deutsche Bank and BNP Paribas acted as co-documentation agents.

Pricing can range from Libor plus 41 to 105 basis points and the commitment fee can range from nine to 20 bps, depending on ratings.

Borrowings are available for working capital purposes, capital expenditures, investments, share repurchases, acquisitions and other general corporate purposes.

The revolver, which closed March 7, has a $500 million accordion feature.

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

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