Motorola Solutions, Inc. has announced an update regarding its acquisition of Silvus Technologies Holdings Inc. The company has entered into two credit agreements to facilitate the transaction: a 364-day credit agreement with Mizuho Bank, Ltd. and a three-year credit agreement with Bank of America, N.A., each providing $750 million in unsecured delayed-draw term loans. These funds will be used to finance the acquisition, refinance certain Silvus debts, and cover related fees and expenses. The closure of these loans is contingent upon the concurrent completion of the Silvus acquisition.
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