Siena Lending Group and Great Rock Capital closed a $130 million senior credit facility for SkyWater Technology, a U.S.-based semiconductor manufacturer. As amended, the revolving loan commitment has been extended and the capacity has been increased from $100 million to $130 million. The amended facility includes a new $25 million capital expenditure (CapEx) sublimit and a $30 million accordion feature. The company intends to utilize the increased borrowing capacity to support ongoing capital investments, working capital and growth initiatives as it continues to drive innovation in high-demand markets such as aerospace and defense, advanced compute and biomedical industries.
“We are pleased to strengthen our partnership with Siena Lending Group and Great Rock Capital,” Steve Manko, chief financial officer of SkyWater, said. “The extended maturity and additional capacity reflect increased confidence in SkyWater’s financial performance and provide additional support for our strategic initiatives and future growth potential.”
“Siena and Great Rock Capital appreciate the opportunity to assist with SkyWater’s continued growth and the initiatives of its talented management team,” Todd Eubanks, deputy chief risk officer of Siena Lending Group, said. “The amended and extended credit facility provides SkyWater with a strong and flexible capital foundation to execute on its business strategy.”
“Great Rock Capital is pleased to work alongside Siena to provide SkyWater with additional growth capital and financial flexibility to support their thriving business,” Kathy Auda, chief risk officer of Great Rock Capital, said. “SkyWater has been an excellent financial partner, and we look forward to supporting their future growth endeavors.”
