Atmel closes $300 million revolving credit facility

SAN JOSE, USA: Atmel Corp. announced that it has closed with a group of lenders on an oversubscribed five-year, $ 300 million senior secured revolving credit facility led by Morgan Stanley Senior Funding Inc. who will also serve as administrative agent on the facility.

Borrowings will be available for general corporate purposes, including working capital, stock repurchases, acquisitions, and other purposes. The facility will bear interest at LIBOR or a base rate plus an applicable margin that varies based on the company's total leverage ratio.