Loan & DebtJul 6, 2026, 05:07 PM
Semtech secures $360M revolving credit facility
AI Summary
Semtech Corporation entered into a new Credit Agreement on July 6, 2026, establishing a $360 million revolving credit facility and an uncommitted incremental term loan facility. The proceeds will be utilized for working capital, general corporate purposes, refinancing existing indebtedness, and funding permitted acquisitions. Concurrently, the company's previous credit agreement, dated September 26, 2022, was terminated and paid in full.
Key Highlights
- Semtech entered a new Credit Agreement on July 6, 2026.
- Secured a $360 million revolving credit facility, undrawn at closing.
- Includes an uncommitted incremental term loan facility.
- Revolving Loan Facility matures on July 6, 2031.
- Proceeds for working capital, general corporate purposes, and refinancing.
- Previous credit agreement from September 2022 was terminated and paid in full.
- Loans bear interest at SOFR-based or prime-based rates plus applicable margins.
- Requires minimum interest coverage ratio of 2.50:1.00 and maximum total net leverage ratio.
Price Impact
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