Morgan Stanley Agents $300M Revolver for Atmel
Atmel announced it closed on an oversubscribed five-year, $300 million senior secured revolving credit facility with a group of lenders led by Morgan Stanley Senior Funding, which is serving as administrative agent.
Borrowings will be available for general corporate purposes, including working capital, stock repurchases, acquisitions and other purposes.
The facility will bear interest at LIBOR or a base rate plus an applicable margin that varies based on the company’s total leverage ratio. The facility contains customary affirmative, negative and financial covenants.
Atmel is a worldwide designer and manufacturer of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radiofrequency components.