QLogic With $125 Million Revolving Credit Facility

QLogic Corp. closed a $125 million revolving credit facility that matures in March 2018.

This unsecured credit facility can be used for working capital and general corporate purposes.

"We are pleased to receive this unsecured credit facility at a very attractive interest rate in a deal from a strong group of lenders led by JP Morgan and others including Bank of America, Silicon Valley Bank and Union Bank," said Jean Hu, SVP and CFO, QLogic. "While we have no immediate plans to draw upon the facility, this is an opportune time to add a revolving credit facility to our capital structure, which provides us further financial flexibility to support our long-term corporate objectives."