SVB Agents New Ixia Credit Facility
Ixia announced it has amended its existing credit agreement and secured a new three-year, $100 million credit facility. The company’s credit agreement provides for a revolving credit loan of up to $60 million and a term loan of up to $40 million.
Silicon Valley Bank served as the administrative agent and, together with Regions Bank, acted as co-lead arranger under the amended credit agreement. Participating lenders include Cadence Bank, Barclays Bank and Stifel Financial.
The credit facility also includes an accordion feature, which allows the company to request an increase of up to $80 million in the lenders’ total commitments under the credit facility, potentially increasing the total amount available under the credit facility to up to $180 million. Any increase under
the accordion feature would be subject to the receipt of increased commitments from one or more participating or new lenders.