Infineon loan for IR buy ‘substantially oversubscribed’

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By Richard Metcalf
13 Oct 2014

German semiconductor maker Infineon has signed €1.55bn of loans which will go towards its $3bn purchase of California-based International Rectifier Corp.

Bank of America Merrill Lynch and Citigroup advised Infineon on the M&A transaction and underwrote the loans, which comprise an €800m and a $934m tranche with tenors of two years and five years, respectively.

The same two banks were co-ordinators and bookrunners on the syndication, Infineon’s largest to date ...

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