Nexperia Secures $1.5 Billion Financing to Fund Future Growth PlansSeptember 06, 2019 by Paul Shepard
Nexperia today announced the successful raise of $1.5 billion equivalent of senior credit facilities. The proceeds will be used to refinance the existing outstanding debt and to partly finance the acquisition by Wingtech Technologies Co., Ltd., a listed Chinese computer and telecom equipment manufacturer. The acquisition of Nexperia will help Wintech to expand its automotive business activities.
Wingtech is focused on artificial intelligent, IoT, smart phone, notebook, intelligent hardware, laptop, automotive electronic and other intelligent hardware areas; its customers are throughout the world. Wingtech has deep cooperation with main brands in this industry and provide service for more than 170 countries and regions.
There are four R&D centers of Wingtech equipped with advanced R&D laboratories and test laboratories; these laboratories are capable of software development, hardware development, professional tests and other R&D work involving artificial intelligent, IoT, smart phones, tablets, intelligent hardware, IoV and automotive electronics.
The financing facilities were arranged and underwritten by ABN AMRO, Bank of America Merrill Lynch and HSBC acting as Global Coordinators and were syndicated to a group of twelve global banks in total. The refinancing is fully supported by Wingtech and provides a flexible financing package at very attractive terms to support the further growth of Nexperia going forward.
As a result of the Wingtech acquisition, the company is expected to capture long-term growth trends in China, further enhancing its revenues.