Allegro MicroSystems, a global company in power and sensing solutions for motion control and energy-efficient systems, allocated a $400 million term loan tranche consisting of new term loans incurred, in relevant part, to facilitate the repurchase of shares from Allegro’s majority shareholder, Sanken Electric, to fully refinance Allegro’s existing term loan facility, and otherwise for general corporate purposes._x000D_
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The new term loan tranche is expected to have a maturity date of Oct. 31, 2030 and to bear interest at an annual rate based on the secured overnight financing rate (SOFR) plus an interest rate margin of 2.25%, which annual rate represents a 0.50% per annum reduction as compared to Allegro’s existing term loan facility. The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the term loan._x000D_
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Morgan Stanley, Barclays, UBS, Bank of America, JPMorgan, Mizuho and SMBC are acting as joint lead arrangers and book-runners for the term loan._x000D_
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PJT Partners is acting as financial advisor to Allegro.
Forward for Specialty Finance
