The company spun out of NXP in June 2016 and this was the first time it had gone out to commercial banks, raising the money from nine global banks led by Bank of America Merrill Lynch and HSBC. The deal involved a significant Revolving Credit facility to refinance existing outstanding debt but there is also funding for capital expenditure to fund future growth at its chinese plant.
“This is the first time that Nexperia has approached the financial markets as an independent company, so we are very pleased with the enthusiastic response. Refinancing the outstanding debt will result in significant savings and give us greater flexibility, while the extra credit will enable us to pursue our ambitions fully with investment in new facilities and manufacturing technology,” said Frans Scheper, CEO of Nexperia.
The company is investing in increasing its capacity and footprint, having recently made a significant expansion to its Guangdong Assembly and Test Facility in China. It has over 11,000 employees around the world and ships oover 90bn devices a year.