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Freescale Closes Amended and Restated Credit Facility



  Freescale Closes Amended and Restated Credit Facility

Business Wire

AUSTIN, Texas -- March 4, 2013

Freescale Semiconductor, Inc. (“Freescale”), an indirect wholly owned
subsidiary of Freescale Semiconductor, Ltd., announced today that effective
March 1, 2013, it obtained new senior secured term loan facilities pursuant to
an amendment and restatement of the company’s senior secured credit facility.
The new credit facility provides for two term loan tranches in an aggregate
principal amount of approximately $2.74 billion, consisting of a $350 million
term loan that will mature in December 2016 and a $2.39 billion term loan that
will mature in March 2020. The maturity of the 2020 term loan may be
accelerated to December 2017 under specified circumstances. The terms of the
existing revolving credit facility remain substantially unchanged. The new
facilities will replace pre-existing debt maturities of approximately $2.2
billion in 2016 and $496 million in 2018.

The new 2016 term loan bears interest at a rate equal to (i) for base rate
borrowings, the applicable base rate plus 2.25%, and (ii) for Eurocurrency
borrowings, the applicable LIBOR rate plus 3.25% (with LIBOR of not less than
1.0%). The new 2020 term loan bears interest at a rate equal to (i) for base
rate borrowings, the applicable base rate plus 2.75%, and (ii) for
Eurocurrency borrowings, the applicable LIBOR rate plus 3.75% (with LIBOR of
not less than 1.25%). Freescale, at its discretion, designates each loan as a
base rate borrowing or a Eurocurrency borrowing for each interest period. Each
of the term loans amortizes quarterly at an annual rate of 1.0% of the initial
loan commitments.

The proceeds from the new term loans were used to refinance the existing term
loans under Freescale’s credit facility and to pay a portion of the related
fees and expenses. Freescale expects to use cash on hand to pay any remaining
fees and expenses.

The new term loans are guaranteed by the same guarantors of the term loans
under the prior credit facility, are secured by the same collateral securing
the term loans under the prior credit facility, and contain substantially the
same covenants as those under the prior credit facility.

About Freescale Semiconductor

Freescale Semiconductor (NYSE:FSL) is a global leader in embedded processing
solutions, providing industry leading products that are advancing the
automotive, consumer, industrial and networking markets. From microprocessors
and microcontrollers to sensors, analog integrated circuits and connectivity –
our technologies are the foundation for the innovations that make our world
greener, safer, healthier and more connected. Some of our key applications and
end-markets include automotive safety, hybrid and all-electric vehicles, next
generation wireless infrastructure, smart energy management, portable medical
devices, consumer appliances and smart mobile devices. The company is based in
Austin, Texas, and has design, research and development, manufacturing and
sales operations around the world. www.freescale.com

Freescale and the Freescale logo are trademarks of Freescale Semiconductor,
Inc. All other product or service names are the property of their respective
owners. © Freescale Semiconductor, Inc. 2013.

Contact:

Freescale Semiconductor
Media Contact:
Rob Hatley, 512-996-5134
robert.hatley@freescale.com
or
Investor Contact:
Mitch Haws, 512-895-2454
mitch.haws@freescale.com
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