Diodes Secures $300M Senior Revolved Credit Facility
Diodes Incorporated (Nasdaq: DIOD), a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic and analog semiconductor markets, today announced that the Company has secured a five-year $300 million revolving senior credit facility. The credit facility bears interest at LIBOR plus 1.50 to 2.25 percent on the drawn amount and also includes an option to increase the size of the credit facility by up to $200 million subject to securing additional lender commitments.
Diodes is permitted to borrow against the facility for the purposes of refinancing certain existing debt, supporting working capital and capital expenditures, as well as financing acquisitions. The Company intends to draw down approximately $200 million, primarily to refinance its current revolver and term debt of $40 million and to finance the recently announced acquisition of BCD Semiconductor Manufacturing Limited.
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