secwatch.observer — SEC 8-K summary
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Issuer:     MICRON TECHNOLOGY INC (MU)
CIK:        0000723125
Form:       8-K
Filed at:   2023-01-05T23:59:59+00:00
Accession:  0000723125-23-000004
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Micron enters $600M incremental term loan facility; borrows $125M, $250M, $225M in three tranches
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- Incremental Term Loan Amendment signed Jan 5, 2023; aggregate principal $600M across three tranches.
- Tranches: Incremental Term A-1 $125M (matures Nov 2025, no amortization), A-2 $250M (matures Nov 2026), A-3 $225M (matures Nov 2027).
- Interest is adjusted term SOFR + 1.00%-2.00% or base rate + 0.00%-1.00%, depending on credit ratings.
- Proceeds used for general corporate purposes, including capital expenditures.
- Leverage covenant maximum 3.25x EBITDA (temporarily 3.75x after material acquisitions).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723125/000072312523000004/0000723125-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723125/000072312523000004/mu-20230105.htm
  HTML page:      https://secwatch.observer/filing/0000723125-23-000004

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