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SELECTED TRANSACTION DETAILS
Wells Fargo Agents $50MM Revolving Credit Facility for NeoPhotonics
Tuesday, September 12, 2017

Lenders/Participants Wells Fargo Bank [Administrative Agent]
Structure Revolving Credit Facility
Amount $50.000 Million
Borrower(s) NeoPhotonics Corporation
Description The Credit Agreement provides for a $50 million revolving credit facility, $30 million of which was drawn at closing. The Credit Facility includes a $5 million letter of credit subfacility. The Credit Facility matures on June 30, 2022. The Company will use the proceeds of the Credit Facility to pay off its existing facility with Comerica Bank and for working capital needs and general corporate purposes. Loans under the Credit Facility bear interest, at the Company’s option, at a rate equal to either (a) the LIBOR rate, plus an applicable margin ranging from 1.50% to 1.75% per annum, based upon the average excess availability (as defined in the Credit Agreement), or (b) the prime lending rate, plus an applicable margin ranging from 0.50% to 0.75% per annum, based upon the average excess availability. The Company is required to pay a commitment fee equal to 0.25% of the unused portion of the Credit Facility, monthly in arrears.
Industry Technology
Related Tags Wells Fargo Bank




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