Veeco Instruments entered into a senior secured revolving credit facility. The Facility enables the company to borrow up to $150 million over a 5-year term which expires in December of 2026. HSBC Bank USA is acting as administrative agent and collateral agent. HSBC Bank along with, Barclays Bank PLC, Santander Bank, and Citibank served as joint lead arranger and joint bookrunner on the Facility with Silicon Valley Bank as an additional lender.

“We are pleased to secure a $150 million facility at attractive interest rates,” commented John Kiernan, Veeco’s Chief Financial Officer. “The Facility provides the company with enhanced liquidity and financial flexibility to carry out our corporate objectives.”

The company has no immediate plans to draw down on the Facility. Interest expense under the Facility is variable based on the company’s secured net leverage ratio and is expected to bear interest based on SOFR plus a range of 150 to 225 basis points, if drawn. There is a yearly commitment fee of 25 to 35 basis points, based on the company’s secured net leverage ratio, charged on the unused portion of the Facility.