---
schema_version: "secwatch.filing_event.v1"
accession: "0000723125-22-000053"
form_type: "8-K"
ticker: "MU"
cik: "0000723125"
company_name: "MICRON TECHNOLOGY INC"
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T10:19:54.812901+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Micron obtains $2.6B term loan facility across three tranches maturing 2025-2027

## Summary
- Borrowed $2.6B on Nov 3, 2022: $926.7M (Tranche A-1, matures Nov 2025), $746.7M (A-2, Nov 2026), $926.7M (A-3, Nov 2027).
- Interest rate: SOFR + 1.00%-2.00% or base rate + 0.00%-1.00%, plus 0.10% SOFR adjustment.
- Unsecured, no dividend restriction, leverage covenant max 3.25x (temporarily 3.75x after material acquisitions).
- Incremental commitments up to $1.3B may be added under certain conditions.
- Proceeds for general corporate purposes including capital expenditures.

## SEC filing metadata
- accession: 0000723125-22-000053
- form_type: 8-K
- ticker: MU
- cik: 0000723125
- company_name: MICRON TECHNOLOGY INC
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723125/000072312522000053/0000723125-22-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723125/000072312522000053/mu-20221103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000723125-22-000053
- JSON: https://secwatch.observer/filing/0000723125-22-000053.json
- Plain text: https://secwatch.observer/filing/0000723125-22-000053.txt

## Key facts
- Debt Financings
  MICRON TECHNOLOGY INC incurred term loan of $2.6 billion in aggregate principal amount with Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, Mizuho Bank, Ltd., and Truist Securities, Inc. as Joint Bookrunners and Joint Lead Arrangers at adjusted term SOFR or at a base rate plus an applicable interest rate margin ran maturing November 3, 2025, November 3, 2026 and November 3, 2027.
  - Instrument: term loan
  - Principal: $2.6 billion in aggregate principal amount
  - Counterparty: Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, Mizuho Bank, Ltd., and Truist Securities, Inc. as Joint Bookrunners and Joint Lead Arrangers
  - Rate: adjusted term SOFR or at a base rate plus an applicable interest rate margin ran
  - Maturity: November 3, 2025, November 3, 2026 and November 3, 2027
  - Event: incurrence
  source text: The Term Loan Agreement provides a committed term loan facility (the “Term Loan Facility”) consisting of three tranches of term loans. On the Closing Date, the company borrowed $2.6 billion in aggregate principal amount, consisting of approximately $926.7 million in aggregate principal amount of Term A-1 Loans, approximately $746.7 million in aggregate principal
  evidence_url: https://www.sec.gov/Archives/edgar/data/723125/000072312522000053/0000723125-22-000053-index.htm
- Material Agreements
  MICRON TECHNOLOGY INC entered into Term Loan Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, Mizuho Bank, Ltd., and Truist Securities, Inc. as Joint Bookrunners and Joint Lead Arrangers, and certain financial institutions as lenders valued at $2.6 billion (effective 2022-11-03).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, Mizuho Bank, Ltd., and Truist Securities, Inc. as Joint Bookrunners and Joint Lead Arrangers, and certain financial institutions as lenders
  - Value: $2.6 billion
  - Effective: 2022-11-03
  source text: On November 3, 2022 (the “Closing Date”), Micron Technology, Inc. (the “Company”), entered into a Term Loan Credit Agreement, by and among the Company, Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, Mizuho Bank, Ltd., and Truist Securities, Inc. as Joint Bookrunners and Joint Lead Arrangers, and certain financial institutions as lenders (the “Term Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/723125/000072312522000053/0000723125-22-000053-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.