EnSilica plc, which is a chip maker of mixed signal application specific integrated circuits (ASICs) and has an office in Oxfordshire, has secured £9 million of debt funding from Lloyds Bank Group, advised by HMT.
The new facilities include a term loan, revolving credit facility (RCF) and accordion facility and provide the company with additional flexibility to underpin ongoing working capital commitments and ensure that it can fully capitalise on existing new business pipeline.
The debt facilities were also used to refinance the company’s existing pre-IPO debt.
EnSilica is a leading fabless chipmaker focused on custom ASIC for original equipment manufacturers (OEMs) and system houses, as well as IC design services for companies with their own design teams.
The company supplies custom RF, mmWave, mixed signal and digital ASICs to its international customers in the automotive, industrial, healthcare and communications markets. It also offers a broad portfolio of core IP covering cryptography, radar and communications systems.
HMT’s debt advisory team were appointed by EnSilica to help secure the debt facilities.
The team ran a competitive process and approached a number of lenders and having evaluated all options Lloyds Bank Group were selected as the preferred debt provider.
Kristoff Rademan, the finance chief at EnSilica said: "We are delighted to have secured a new debt financing package for the business, which strengthens our underlying finances and supports our working capital commitments going forward, and very pleased with the support provided by Neil Brown and the team from HMT in advising us on this debt package."
