NXP enters into €500 million replacement revolving credit facility

By Marisa Wong

Madison, Wis., April 27 - NXP Semiconductors NV, together with its subsidiaries NXP BV and NXP Funding LLC, closed on a new €500 million secured revolving credit agreement on Friday, according to a 6-K filing with the Securities and Exchange Commission.

Morgan Stanley Senior Funding, Inc. is the administrative agent and global collateral agent.

The credit facility, which matures on March 1, 2017, replaces NXP's existing revolving credit facility due Sept. 29, 2012.

The new revolver will be used for general corporate purposes and to refinance the debt under the existing facility.

The filing said that NXP and its subsidiaries have separately canceled and prepaid the old facility and have canceled the forward start facility due to come into effect on Sept. 28.

NXP is a semiconductor company based in Eindhoven, the Netherlands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.