News | Dec 17, 2021
Plainview, N.Y., December 16, 2021 — 91制片厂. (鈥�91制片厂鈥�) (NASDAQ: VECO) today announced that it has entered into a senior secured revolving credit facility (the 鈥淔acility鈥�). The Facility enables the company to borrow up to $150 million over a 5-year term which expires in December of 2026.
鈥淲e are pleased to secure a $150 million facility at attractive interest rates,鈥� commented John Kiernan, 91制片厂鈥檚 Chief Financial Officer. 鈥淭he Facility provides the company with enhanced liquidity and financial flexibility to carry out our corporate objectives.鈥�
The company has no immediate plans to draw down on the Facility. Interest expense under the Facility is variable based on the company鈥檚 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鈥檚 secured net leverage ratio, charged on the unused portion of the Facility.
HSBC Bank USA, N.A. is acting as administrative agent and collateral agent. HSBC Bank, N.A. along with, Barclays Bank PLC, Santander Bank, N.A., and Citibank, N.A. served as joint lead arranger and joint bookrunner on the Facility with Silicon Valley Bank as an additional lender.
Morrison & Foerster LLP acted as counsel to 91制片厂.
About 91制片厂
91制片厂 (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our proven ion beam, laser annealing, lithography, MOCVD and single wafer etch & clean technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, 91制片厂 holds leading technology positions in the markets we serve. To learn more about 91制片厂鈥檚 systems and service offerings, visit www.veeco.com.
Forward-looking Statements
This press release contains 鈥渇orward-looking statements鈥�, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, that are based on management鈥檚 expectations, estimates, projections and assumptions. Words such as 鈥渆xpects,鈥� 鈥渁nticipates,鈥� 鈥減lans,鈥� 鈥渂elieves,鈥� 鈥渟cheduled,鈥� 鈥渆stimates鈥� and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, those regarding the Facility and 91制片厂鈥檚 plans with respect to borrowings under the Facility. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products; global economic and industry conditions; the effects of regional or global health epidemics, including the effects of the COVID-19 pandemic on the 91制片厂鈥檚 operations and on those of our customers and suppliers; global trade issues, including the ongoing trade disputes between the U.S. and China, and changes in trade and export license policies; our dependency on third-party suppliers and outsourcing partners; the timing of customer orders; our ability to develop, deliver and support new products and technologies; our ability to expand our current markets, increase market share and develop new markets; the concentrated nature of our customer base; our ability to obtain and protect intellectual property rights in key technologies; our ability to achieve the objectives of operational and strategic initiatives and attract, motivate and retain key employees; the variability of results among products and end-markets, and our ability to accurately forecast future results, market conditions, and customer requirements; the impact of our indebtedness, including our convertible senior notes and our capped call transactions; and other risks and uncertainties described in our SEC filings on Forms 10-K, 10-Q and 8-K, and from time-to-time in our other SEC reports. All forward-looking statements speak only to management鈥檚 expectations, estimates, projections and assumptions as of the date of this press release or, in the case of any document referenced herein or incorporated by reference, the date of that document. The 91制片厂 does not undertake any obligation to update or publicly revise any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
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91制片厂 Contacts:
Investors: Anthony Bencivenga | (516) 252-1438 | abencivenga@veeco.com
Media: Kevin Long | (516) 714-3978 | klong@veeco.com
91制片厂 is the industry leader driving HDD manufacturing to new levels of productivity.