Loan & DebtJun 30, 2026, 04:12 PM
Lattice Semiconductor Secures $1.15B Credit Facility for AMI Acquisition
AI Summary
Lattice Semiconductor Corporation entered into a Second Amended and Restated Credit Agreement, establishing a new senior secured credit facility totaling $1.15 billion. This facility includes a $200.0 million revolving loan for working capital and general corporate purposes, and a $950.0 million delayed draw term loan specifically intended to finance a portion of the cash purchase price for the previously announced AMI acquisition. Both facilities mature on June 30, 2031, and are subject to customary fees, interest rates based on the Company's leverage ratio, and financial covenants.
Key Highlights
- Lattice Semiconductor entered into a Second Amended and Restated Credit Agreement.
- The agreement provides a senior secured revolving loan facility of $200.0 million.
- It also includes a senior secured delayed draw term loan facility of $950.0 million.
- Revolving loan proceeds are for working capital and general corporate purposes, due June 30, 2031.
- Delayed draw term loan proceeds are for the AMI acquisition and related fees.
- Interest rates are based on base rate or term SOFR, plus a margin of 0.00%-0.75% or 1.00%-1.75% respectively.
- Delayed draw term loans are repayable in quarterly installments, starting at 1.250% of original principal.
- The credit agreement requires compliance with total net leverage and interest coverage ratios.
Price Impact
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