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Ixia Announces Four-Year $150 Million Revolving Credit Facility
By: Business Wire
Dec. 24, 2012 08:30 AM
Ixia (Nasdaq: XXIA), a provider of test and monitoring solutions that optimize networks and data centers to accelerate and secure application delivery, announced today that it has secured a four-year, $150 million Senior Secured Revolving Credit Facility.
“Ixia’s strong execution and enhanced business model allow us to put this revolving line of credit in place under very favorable terms,” said Vic Alston, Ixia’s president and chief executive officer.
The credit facility includes an accordion option, which allows the company to increase the size of the facility by up to $50 million under certain circumstances, extending its total line of credit borrowing capability to $200 million.
Bank of America Merrill Lynch served as Sole Lead Arranger and Sole Book Runner, and Bank of America, N.A. acted as the Administrative Agent. Other participating banks included U.S. Bank National Association, Silicon Valley Bank, HSBC Bank USA, National Association, Barclays Bank PLC, Stifel Bank & Trust, and Deutsche Bank Trust Company Americas.
Ixia solutions deliver actionable insight through real-time monitoring, real-world testing, and rapid assessment. This end-to-end visibility provides organizations with a complete understanding into user behavior, security vulnerabilities, network capacity, application performance, and IT resiliency. From the lab to the network to the cloud, Ixia solutions enable its customers to optimize networks and data centers to accelerate, secure, and scale application delivery. For more information, visit www.ixiacom.com.
Safe Harbor Under the Private Securities Litigation Reform Act of 1995:
Certain statements made in this press release are forward-looking statements, including, without limitation, statements regarding growth, profitability, financial performance and future business. In some cases, such forward-looking statements can be identified by terms such as may, will, should, expect, plan, believe, estimate, predict or the like. Such statements reflect our current intent, belief and expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that may cause future results to differ materially from our current expectations include the risk that the size of the credit facility will not be increased, the risk that the anticipated benefits and synergies of our recent acquisitions of Anue Systems, Inc. and BreakingPoint Systems, Inc. will not be realized, changes in the global economy, competition, consistency of orders from significant customers, our success in developing and producing new products, market acceptance of our products, war, terrorism, political unrest, natural disasters and other circumstances that could, among other consequences, adversely affect our pursuit of business opportunities, reduce the demand for our products, disrupt our supply chain and/or impact the delivery of our products. Such factors also include those identified in our Annual Report on Form 10-K for the year ended December 31, 2011, and in our other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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