Bloomberg News

Smart Modular Said to Seek $350 Million Loan for Silver Lake LBO

June 21, 2011

June 21 (Bloomberg) -- Smart Modular Technologies Inc., the maker of data-storage products, will meet with lender on June 23 at 9:30 a.m. in New York to discuss $350 million in loans to support its buyout by Silver Lake Partners, according to a person with knowledge of the matter.

The JPMorgan Chase & Co.-led transaction includes a $300 million, seven-year term loan and a $50 million, five-year revolving credit line, said the person who declined to be identified because the deal is private.

The term loan may pay interest of 4.5 percentage points more than the London interbank offered rate, and the lending benchmark, will have a 1.25 percent floor, Newark, California- based Smart Modular said in a May 25 regulatory filing.

To contact the reporter on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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