MICRON TECHNOLOGY INC (MU): debt financing — Micron enters $3.5B revolver maturing 2030, replaces $2.5B facility

MICRON TECHNOLOGY INC

New $3.5B committed revolving credit facility signed March 12, 2025; no outstanding borrowings at close.
Matures March 12, 2030; replaces $2.5B facility that was to mature May 14, 2026.
Interest rate margins vary by credit rating: base rate +0.00%-0.50%; SOFR +0.875%-1.50%.
Net leverage covenant not to exceed 3.25x (temporarily 3.75x after material acquisitions); no dividend restriction.
Incremental facility capacity of up to $1.5B, subject to lender consent and covenant compliance.

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

MICRON TECHNOLOGY INC incurred revolving credit of $3.5 billion with HSBC Bank USA, N.A., as Administrative Agent at base rate or adjusted term SOFR plus an applicable interest rate margin varying maturing March 12, 2030.

Instrument: revolving credit
Principal: $3.5 billion
Counterparty: HSBC Bank USA, N.A., as Administrative Agent
Rate: base rate or adjusted term SOFR plus an applicable interest rate margin varying
Maturity: March 12, 2030
Event: incurrence

Exact text from the filing

additional lead arrangers and certain financial institutions as lenders (the “Revolving Credit Agreement”). The Revolving Credit Agreement provides the Company with a committed $3.5 billion revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility includes a $250 million documentary credit sublimit for letters of credit and bank

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Source: SEC EDGAR

accession 0001104659-25-022973

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