Diodes Incorporatedsecured a five-year $300 million revolving senior credit facility. Bank of America acted as administrative agent and Merrill Lynch, Pierce, Fenner & Smith Inc. served as sole lead arranger and sole book runner.

The credit facility bears interest at LIBOR plus 1.50 to 2.25 percent on the drawn amount and also includes an option to increase the size of the credit facility by up to $200 million subject to securing additional lender commitments. Diodes is permitted to borrow against the facility for the purposes of refinancing certain existing debt, supporting working capital and capital expenditures, as well as financing acquisitions. The company intends to draw down approximately $200 million, primarily to refinance its current revolver and term debt of $40 million and to finance the recently announced acquisition of BCD Semiconductor Manufacturing Limited.

Commenting on the transaction, Dr. Keh-Shew Lu, president and chief executive officer of Diodes, stated, “We are pleased to have secured this revolving credit facility on favorable terms from a prominent group of lenders. In addition to financing our proposed acquisition of BCD Semiconductor, the facility also provides the company additional flexibility as we continue to execute on our growth initiatives.”

Other participating banks included Citibank, N.A., Compass Bank, HSBC Bank USA, N.A., Regions Bank, Silicon Valley Bank, Capital One Bank (USA), N.A., Comerica Bank and Union Bank.

Diodes Incorporated is a global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic and analog semiconductor markets.