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© alphaspirit dreamstime.com Components | October 13, 2014

Infineon completes syndication of billion loan facilities

Infineon Technologies AG has recently syndicated its EUR 1.55 billion committed acquisition loan facilities. Together with cash-on-hand, the loan will be used to fund the acquisition of International Rectifier.
“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 have terms of up to 2 years and 5 years respectively. The acquisition of International Rectifier is expected to close late in the calendar year 2014 or early in the calendar year 2015.

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.

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