Thursday, October 25, 2012

International Rectifier Gets $100M In Credit Facility

El Segundo-based integrated circuit maker International Rectifier said this morning that it has raised $100M in four year, senior unsecured credit facility. The funding came from a group of lenders led by Wells Fargo Bank, National Association, along with JP Morgan Chase Bank NA, HSBC Bank USA, National Association and Bank of the West. The company said the facility will go towards working capital, acquisition, stock repurchases, and other general corporate use. The facility is at an interest rate of LIBOR plus 1.25 percent. International Rectifier is a developer of power management ICs, used across a wide range of electronics products.