Daily News: November 9, 2016

Barclays Supports Coherent Acquisition of Rofin-Sinar


Coherent completed its previously announced acquisition of Rofin-Sinar Technologies in a transaction valued at approximately $942 million. Coherent funded the transaction with a combination of cash on hand and proceeds from a seven-year €670 million ($740 million) term loan B.

According to a related 8-K filing, Barclays served as administrative agent and syndication agent for the loan. Barclays, Bank of America and MUFG Union were L/C issuers. Barclays and Merrill Lynch were joint lead arrangers and joint bookrunners.

As a result of the acquisition, Rofin common stock will no longer trade on the Nasdaq Stock Market and Frankfurt Stock Exchange.

Founded in 1966, Santa Clara, CA-based Coherent is a provider of lasers and laser-based technology for scientific, commercial and industrial customers.

Rofin-Sinar Technologies is a developer, designer and manufacturer of lasers and laser-based system solutions for industrial material processing applications.