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Silicon Valley Bank Provides $25MM Facility to Mattson Technology

April 15, 2013, 07:46 AM
Filed Under: Technology

Mattson Technology, a leading supplier of advanced process equipment used to manufacture semiconductors, today the company entered into a three-year revolving credit facility for $25 million with Silicon Valley Bank. Upon closing, the company borrowed $10 million under this facility with an annual interest rate of 4.75 percent.

Availability under the credit facility is based on the achievement of certain quarterly EBITDA levels and on a borrowing base formula consisting of the sum of eligible accounts receivable, advance billings and inventory. Borrowings under the credit facility will bear interest at a variable rate based on, at the company’s option, either (i) Alternate Base Rate (ABR) plus an applicable margin between 0.25 percent to 1.50 percent per annum, or (ii) the Eurodollar Rate plus an applicable margin between 3.25 percent to 4.50 percent per annum. The agreement is guaranteed by Mattson International, Inc., a wholly-owned subsidiary of the company, and is secured by substantially all of the company’s and Mattson International, Inc.’s assets.

“With this credit facility we are well positioned to take advantage of the next ramp in business and it provides the Company flexibility to continue to invest as business demand grows,” said J. Michael Dodson, chief operating officer and chief financial officer of Mattson Technology.

Mattson Technology, Inc. designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits.

SVB Financial Group is a financial holding company that serves companies in the technology, life science, venture capital and premium wine industries. Offering diversified financial services through Silicon Valley Bank, SVB Analytics, SVB Capital, SVB Global and SVB Private Bank, SVB Financial Group provides clients with commercial, investment, international and private banking services.

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