---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-23-003167"
form_type: "8-K"
ticker: "SMTC"
cik: "0000088941"
company_name: "SEMTECH CORP"
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-19T00:18:41.358354+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Semtech amends credit agreement to ease leverage and interest coverage covenants

## Summary
- Increased maximum consolidated leverage ratio for certain test periods.
- Reduced minimum consolidated interest coverage ratio for certain test periods.
- Increased interest rate margin during the covenant relief period.
- Consent fee of 0.125% of commitments and outstanding term loans paid to consenting lenders.
- Amendment effective February 24, 2023.

## SEC filing metadata
- accession: 0000950103-23-003167
- form_type: 8-K
- ticker: SMTC
- cik: 0000088941
- company_name: SEMTECH CORP
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/88941/000095010323003167/0000950103-23-003167-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/88941/000095010323003167/dp189444_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-23-003167
- JSON: https://secwatch.observer/filing/0000950103-23-003167.json
- Plain text: https://secwatch.observer/filing/0000950103-23-003167.txt

## Key facts
- Material Agreements
  SEMTECH CORP amended First Amendment to Third Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at Amendment to increase maximum consolidated leverage ratio covenant, reduce minimum consolidated inte (effective 2023-02-24).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: Amendment to increase maximum consolidated leverage ratio covenant, reduce minimum consolidated inte
  - Effective: 2023-02-24
  source text: On February 24, 2023 (the “Effective Date”), Semtech Corporation (the “Registrant”), with certain of its domestic subsidiaries as guarantors, entered into that certain First Amendment to Third Amended and Restated Credit Agreement (the “First Amendment”) with the lenders referred to therein and JPMorgan Chase Bank, N.A., as administrative agent. Pursuant to the First Amendment, on the Effective Date hereof, the Registrant’s existing credit agreement was amended to: (i) increase the maximum consolidated leverage ratio covenant for certain test periods as set forth in the First Amendment, (ii) reduce the minimum consolidated interest coverage ratio covenant for certain test periods as set forth in the First Amendment, (iii) increase the interest rate margin applicable to loans under the credit agreement during the covenant relief period as set forth in the First Amendment and (iv) make certain other changes as set forth in the First Amendment, a copy of which is included as Exhibit 10.1
  evidence_url: https://www.sec.gov/Archives/edgar/data/88941/000095010323003167/0000950103-23-003167-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.