TriQuint Semiconductor gets $200 million unsecured credit facility

By Sara Rosenberg

New York, Oct. 4 - TriQuint Semiconductor Inc. closed on a $200 million three-year unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Bank of America acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on Sept. 30.

Pricing on the revolver can range from Libor plus 250 basis points to 300 bps, and the commitment fee can range from 40 bps to 50 bps, based on leverage. Initial pricing is Libor plus 250 bps with a 40 bps commitment fee.

Financial covenants include a consolidated total leverage ratio as of the end of any fiscal quarter of 2.50 to 1.0, a consolidated liquidity ratio of 1.25 to 1.0 and a consolidated interest coverage ratio of 3.00 to 1.0.

The revolver provides for a one-year extension option.

TriQuint is a Hillsboro, Ore.-based supplier of modules, components and foundry services to communications companies.

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