Skyworks amends credit agreements to replace LIBOR with SOFR as benchmark rate

SKYWORKS SOLUTIONS, INC.

Entered First Amendment to Term Credit Agreement (May 21, 2021) to replace LIBOR with SOFR-based interest rate plus spread adjustment.
Entered First Amendment to Revolving Credit Agreement to similarly replace LIBOR with SOFR-based rate.
Effective March 6, 2023; Term SOFR switch effective date is earlier of June 30, 2023 or Benchmark Replacement Date.
No changes to commitment amounts, maturity, or financial covenants disclosed.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SKYWORKS SOLUTIONS, INC. amended Revolver Amendment with JPMorgan Chase Bank, N.A. (effective 2023-03-06).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, the Company entered into a First Amendment (the “Revolver Amendment”) with JPMorgan Chase Bank, N.A., as the administrative agent

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SKYWORKS SOLUTIONS, INC. amended Term Loan Amendment with JPMorgan Chase Bank, N.A. and other lenders (effective 2023-03-06).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. and other lenders
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, Skyworks Solutions, Inc. (the “Company”) entered into a First Amendment (the “Term Loan Amendment”) with the lenders party thereto and JPMorgan Chase Bank, N.A., as the administrative agent

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Source: SEC EDGAR

accession 0000004127-23-000012

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