Cirrus Logic amends credit agreement to replace LIBOR with Term SOFR

CIRRUS LOGIC, INC.

First Amendment dated March 20, 2023 to $300M second amended and restated credit agreement.
Replaces LIBOR with forward-looking Term SOFR plus a spread adjustment for interest calculations.
Existing terms and $300M commitment unchanged; all representations and warranties reaffirmed.
Lenders include Wells Fargo, Bank of America, Barclays, and Goldman Sachs.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

CIRRUS LOGIC, INC. amended First Amendment with Wells Fargo Bank, National Association (as administrative agent) (effective 2023-03-20).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association (as administrative agent)
Effective: 2023-03-20

Exact text from the filing

On March 20, 2023, Cirrus Logic, Inc., as borrower (the "Company"), entered into the First Amendment (the "Amendment") to its Second Amended and Restated Credit Agreement (the "Credit Agreement"), dated as of July 8, 2021, with the lending institutions party thereto and Wells Fargo Bank, National Association, as administrative agent.

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CIRRUS LOGIC, INC. filing history →

Source: SEC EDGAR

accession 0000772406-23-000011

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