secwatch.observer — SEC 8-K summary
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Issuer:     MICRON TECHNOLOGY INC (MU)
CIK:        0000723125
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0000723125-22-000053
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723125/000072312522000053/0000723125-22-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723125/000072312522000053/mu-20221103.htm
  HTML page:      https://secwatch.observer/filing/0000723125-22-000053

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