HARMONIC INC. (HLIT): debt financing — Harmonic enters $160M credit facility with Citibank to refinance debt; term loan for convertible note repurchase

HARMONIC INC.

New secured credit agreement provides $120M revolving facility and $40M delayed term loan, maturing December 2028.
Term loan proceeds must be used to repurchase Harmonic's 2.00% Convertible Senior Notes due 2024.
No loans outstanding at closing; approximately $180,000 of letters of credit issued under the facility.
The facility refinances and replaces existing credit agreement with JPMorgan Chase dated December 2019.
Interest rates: SOFR+2.00%-2.75% or base rate+1.00%-1.75%, with margins based on net leverage ratio.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HARMONIC INC. incurred credit facility of up to $120.0 million with Citibank, N.A., as administrative agent maturing December 21, 2028.

Instrument: credit facility
Principal: up to $120.0 million
Counterparty: Citibank, N.A., as administrative agent
Maturity: December 21, 2028
Event: incurrence

Exact text from the filing

On December 21, 2023, Harmonic Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”), by and among the Company, certain subsidiaries of the Company from time to time party thereto, the lenders from time to time party thereto, and Citibank, N.A., as administrative agent. The Credit Agreement provides for a secured revolving loan facility in an aggregate principal amount of up to $120.0 million (the “Revolving Facility”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HARMONIC INC. incurred term loan of up to $40.0 million maturing December 21, 2028.

Instrument: term loan
Principal: up to $40.0 million
Maturity: December 21, 2028
Event: incurrence

Exact text from the filing

and a secured delayed term loan facility in an aggregate principal amount of up to $40.0 million (the “Term Facility”). The Credit Agreement refinances and replaces the Company’s existing credit agreement

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HARMONIC INC. entered into Credit Agreement with Citibank, N.A., as administrative agent valued at $120.0 million (effective 2023-12-21).

Action: entry
Agreement: credit facility
Counterparty: Citibank, N.A., as administrative agent
Value: $120.0 million
Effective: 2023-12-21

Exact text from the filing

On December 21, 2023, Harmonic Inc. (the "Company") entered into a Credit Agreement (the "Credit Agreement"), by and among the Company, certain subsidiaries of the Company from time to time party thereto, the lenders from time to time party thereto, and Citibank, N.A., as administrative agent. The Credit Agreement provides for a secured revolving loan facility in an aggregate principal amount of up to $120.0 million

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114 debt financings filed in the last 30 days. Browse all debt financings →

HARMONIC INC. filing history →

Source: SEC EDGAR

accession 0000851310-23-000113

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