The $200 million credit for AMI Semiconductor was oversubscribed last week, according to a banker familiar with the deal. The credit is being done in conjunction with the planned initial public offering of common stock for the Pocatello, Idaho-based mixed signal products producer. Parent AMIS Holdings announced last month it had filed a registration statement with the Securities and Exchange Commission for the IPO. Credit Suisse First Boston and Goldman Sachs are leading the credit, which includes a five-year, $125 million "B" loan and a three-year, $75 million revolver. CSFB, Goldman and Lehman Brothers are underwriting the IPO. Lehman is also a documentation agent on the credit.
Pricing on the "B" tranche is at LIBOR plus 23/4%, while the revolver is priced at LIBOR plus 3% with a 50 basis point commitment fee. Francisco Partners, a technology-focused buyout fund, and Citigroup Venture Capital acquired a majority interest in AMI in 2000. Jimmie Hutchens, manager of AMI investor relations, declined comment. A Goldman official declined to comment, while CSFB and Lehman bankers did not return calls.