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Infineon Successfully Completes Syndication of EUR 1.55 Billion Loan Facilities for the Acquisition Financing of International Rectifier - Infineon Technologies AG announced that it has recently successfully fully syndicated its EUR 1.55 billion committed acquisition loan facilities [NYSE: IRF] - Infineon.com
Infineon Successfully Completes Syndication of EUR 1.55 Billion Loan Facilities for the Acquisition Financing of International Rectifier

 

NewswireToday - /newswire/ - Munich, Germany, 2014/10/13 - Infineon Technologies AG announced that it has recently successfully fully syndicated its EUR 1.55 billion committed acquisition loan facilities [NYSE: IRF] - Infineon.com. FSE: IFX; OTCQX: IFNNY

   
 
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Proceeds from the loan facilities, together with cash-on-hand will be used to fund the acquisition of International Rectifier Corporation.

“The significant oversubscription by a diversified syndicate of banks, as well as the long term loan commitment reflect the trust of the banks in the prospects of Infineon and this important acquisition,” says Dominik Asam, Chief Financial Officer of Infineon Technologies AG.

The EUR 800 million and USD 934 million facilities, which were underwritten by Bank of America Merrill Lynch International Limited and Citibank, N.A., London Branch have terms of up to 2 years and 5 years respectively. The acquisition of International Rectifier, which was announced on August 20, 2014, is expected to close late in the calendar year 2014 or early in the calendar year 2015.

The loan facilities were syndicated among 13 domestic and international banks. Bank of America Merrill Lynch International Limited and Citigroup Global Markets Limited acted as coordinators and bookrunners on the transaction, which was substantially oversubscribed, thus leading to a corresponding scale-back of the bank commitments.

The syndication of the acquisition loan facilities is Infineon’s largest to date, its first in 10 years and establishes the company’s future group of core-banks.

About Infineon

Infineon Technologies AG (infineon.com), Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, mobility, and security. In the 2013 fiscal year (ending September 30), the company reported sales of Euro 3.84 billion with close to 26,700 employees worldwide.

Information Number: INFXX201410-001

 
 
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Written by / Agency / Source: Infineon Technologies AG

 
 

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Infineon Successfully Completes Syndication of EUR 1.55 Billion Loan Facilities for the Acquisition Financing of International Rectifier

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Infineon Technologies AG | International Rectifier
Publisher Contact: Bernd Hops - Infineon.com 
+49 89 23424123 bernd.hops[.]infineon.com
 
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