VEECO INSTRUMENTS INC (VECO): debt financing — Veeco ups revolver to $250M, extends maturity to 2030, lowers pricing, loosens covenant

VEECO INSTRUMENTS INC

Senior secured revolver increased by $25M to $250M maximum principal.
Termination date extended to June 16, 2030 (from Dec 16, 2026) with springing maturity.
Applicable margin decreased: ABR from 0.50%-1.25% to 0.25%-1.00%; SOFR from 1.50%-2.25% to 1.25%-2.00%.
Maximum incremental revolving loans raised to $100M; Secured Net Leverage Ratio covenant loosened to 3.00x from 2.50x.
Fourth Amendment effective June 16, 2025; borrowings used for general corporate purposes.

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

VEECO INSTRUMENTS INC amended revolving credit of $250,000,000 with HSBC Bank USA, National Association at decrease in the applicable margin (a) with respect to the alternative base rate, maturing June 16, 2030.

Instrument: revolving credit
Principal: $250,000,000
Counterparty: HSBC Bank USA, National Association
Rate: decrease in the applicable margin (a) with respect to the alternative base rate,
Maturity: June 16, 2030
Event: amendment

Exact text from the filing

The Fourth Amendment provides for, among other things, (i) an increase to the maximum aggregate principal amount of the senior secured revolving credit facility by $25,000,000 to $250,000,000, (ii) the extension of the termination date from December 16, 2026 to June 16, 2030, subject to a springing maturity date of March 2, 2029 upon the occurrence of certain liquidity events described in the Fourth Amendment, (iii) a decrease in the applicable margin (a) with respect to the alternative base rate, from between 0.50% to 1.25%, to between 0.25% to 1.00%, and (b) with respect to the SOFR rate, from between 1.50% to 2.25% to between 1.25% to 2.00%

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Source: SEC EDGAR

accession 0001104659-25-060323

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