Macom Technology pays off term loans due to high interest rates

Chicago, Aug. 4 – Macom Technology Solutions Holdings, Inc. paid off the remaining balance on its outstanding term loans, which had a maturity date of May 2024, according to a press release.

The company used $121 million of its $588 million available cash and short-term investments for the payoff.

“In this current high interest rate environment, we believe it is prudent to retire this floating-rate debt obligation early and reduce our net interest costs by approximately $0.6 million per quarter,” said Jack Kober, senior vice president and chief financial officer of the company, in the release.

Macom Technology is a Lowell, Mass.-based semiconductor company.

© 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.