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MaxLinear, Inc (NYSE: MXL) availed a new 0 million seven-year senior secured term B loan facility to repay and terminate MaxLinear's existing credit facilities, pay fees and expenses, and provide additional working capital for MaxLinear.
MaxLinear also availed a new $100 million five-year senior secured revolving credit facility which was undrawn at the time of close.
The new credit facility expands MaxLinear's borrowing capacity, extends the indebtedness term, and reduces amortization expenses.
The revolving facility provides increased strategic and operational flexibility to support the critical growth initiatives.
Wells Fargo Securities, MUFG Securities Americas, BMO Capital Markets, and Citizens Bank are the joint lead arrangers and book-runners for the transaction.
MaxLinear held $344.1 million in long-term debt as of Mar. 31, 2021. It had $22.4 million in long-term lease liabilities.
The company held $149.2 million in cash and equivalents.
Price action: MXL shares closed higher by 2.93% at $39.99 on Wednesday.
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