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IDT Announces Successful Repricing of $198 Million of USD Term B Loan With Existing Investors
SAN JOSE, Calif., June 1, 2018 /PRNewswire/ -- Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI) today announced that it has successfully repriced its aggregate $198 Million Term B Loan, reducing the interest rate by 0.50%. The new financing is expected to generate annual cash interest savings of approximately $1 million.
The Company urges investors to review the terms of this new loan agreement, along with risks and uncertainties, in the Company's Securities and Exchange Commission filings, including but not limited to the 8K filed on June 1, 2018 and the Annual Report on Form 10-K for the fiscal year ended April 1, 2018.
About IDT
Integrated Device Technology, Inc. develops system-level solutions that optimize its customers' applications. IDT's market-leading products in RF, timing, wireless power transfer, serial switching, interfaces and sensing solutions are among the company's broad array of complete mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments. Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol "IDTI." Additional information about IDT is accessible at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, YouTube and Google+.
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Financial Contact:
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Press Contact:
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Krishna Shankar
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Krista Pavlakos
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Head of Investor Relations
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IDT Director, Communications
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Phone: (408) 574-6995
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Phone: (408) 574-6640
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E-mail: [email protected]
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E-mail: [email protected]
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SOURCE Integrated Device Technology, Inc.
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