HARMONIC INC. (HLIT): debt financing — Harmonic amends credit facility, extends maturity to 2025 and shifts to SOFR

On October 28, 2022, Harmonic Inc. (the “Company”) entered into a fourth amendment (“Amendment No. 4”) to that certain Credit Agreement, dated December 19, 2019, by and among the Company and Harmonic International GmbH, as co-borrowers, certain subsidiaries of the Company from time to time party thereto, as guarantors, and JPMorgan Chase Bank, N.A., as lender (as amended, the “Credit Facility”). Amendment No. 4 amends the Credit Facility to, among other things (i) extend the maturity date of the Credit Facility to the earlier of (a) October 28, 2025 or (b) subject to certain exceptions, the date that is 90 days prior to the maturity date of the Company’s 2.00% Convertible Senior Notes due 2024 (to the extent such notes remain outstanding as of such date), (ii) amend the interest rate provisions to replace LIBOR with SOFR as the interest rate benchmark and (iii) make certain other revisions as more fully set forth therein. As amended, the revolving loans bear interest, at the Company’s

On October 28, 2022, Harmonic Inc. (the “Company”) entered into a fourth amendment (“Amendment No. 4”) to that certain Credit Agreement, dated December 19, 2019, by and among the Company and Harmonic International GmbH, as co-borrowers, certain subsidiaries of the Company from time to time party thereto, as guarantors, and JPMorgan Chase Bank, N.A., as lender (as amended, the “Credit Facility”).