Atmel obtains $300 million five-year revolver via Morgan Stanley

By Toni Weeks

San Luis Obispo, Calif., Dec. 9 - Atmel Corp. announced in a press release that it has arranged an oversubscribed $300 million five-year senior secured revolving credit facility with administrative agent Morgan Stanley Senior Funding, Inc.

Borrowings will bear interest at Libor plus an applicable margin that varies based on the company's total leverage ratio.

The facility contains customary affirmative, negative and financial covenants, the release noted.

Borrowings will be available for general corporate purposes, including working capital, stock repurchases, acquisitions and other purposes.

San Jose, Calif.-based Atmel designs and manufactures microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency components.

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