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Diodes Incorporated Announces New $670 Million Credit Facility in Next Step of Lite-On Semiconductor Acquisition
Diodes intends to use this new credit facility to refinance existing debt, ensure access to cash at a competitive rate, and to prepare financing for the acquisition of Lite-On Semiconductor (LSC) that is expected to close in the second half of 2020.
The term loan facility includes a delayed drawdown period to contemplate the LSC acquisition closing process. The interest rate on the facility is floating with an initial rate based on Libor plus 2.0% through
“We are very pleased to enter into this new financing agreement, which represents an important step in preparing for the planned acquisition of LSC in the second half of the year,” commented
Director, Investor Relations
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