Harmonic enters $30M receivables sale facility and amends credit agreement to permit it

HARMONIC INC.

Harmonic signed a $30M Master Receivables Purchase Agreement with JPMorgan to sell accounts receivable.
Fifth Amendment to existing credit facility allows the RPA and sets aggregate indebtedness cap at $50M.
Purchased accounts are excluded from eligible accounts under the credit facility; Comcast accounts are also excluded if sold.
RPA obligations are secured under loan documents; lender retains first-priority lien on amounts JPMorgan owes Harmonic for purchased receivables.
Facility provides up to $30M in additional liquidity, with proceeds used for general corporate purposes.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HARMONIC INC. amended Fifth Amendment to Credit Agreement with JPMorgan Chase Bank, N.A. (effective 2023-09-29).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2023-09-29

Exact text from the filing

On September 29, 2023, Harmonic Inc. (the “ Company ”) entered into a fifth amendment (“ Amendment No. 5 ”) to that certain Credit Agreement, dated December 19, 2019, by and among the Company and Harmonic International GmbH, as co-borrowers, and JPMorgan Chase Bank, N.A., as lender (the “ Credit Facility ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HARMONIC INC. entered into Master Receivables Purchase Agreement with JPMorgan Chase Bank, N.A. valued at up to $30 million (effective 2023-09-29).

Action: entry
Counterparty: JPMorgan Chase Bank, N.A.
Value: up to $30 million
Effective: 2023-09-29

Exact text from the filing

On September 29, 2023, the Company entered into a Master Receivables Purchase Agreement (the “ Purchase Agreement ”) with JPMorgan Chase Bank, N.A., as purchaser (the “ Purchaser ”), pursuant to which the Company may, from time to time, sell to the Purchaser certain accounts receivable, in an aggregate outstanding amount of up to $30 million.

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HARMONIC INC. filing history →

Source: SEC EDGAR

accession 0000851310-23-000087

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