Synaptics amends credit agreement to replace LIBOR with SOFR benchmark

SYNAPTICS Inc

Second Amendment dated March 16, 2023 replaces USD LIBOR with Term SOFR (plus spread adjustment) in the $250M credit agreement.
Early Opt-in Election made March 8; no objection from Required Lenders received by the deadline.
Borrower certified no Default or Event of Default exists and representations remain true.
Outstanding loans automatically convert to SOFR-based loans with one-month interest period upon effectiveness.
Amendment also applies Benchmark Replacement Conforming Changes to the agreement's mechanics.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

SYNAPTICS Inc amended Second Amendment to the Second Amended and Restated Credit Agreement with Wells Fargo Bank, National Association valued at Replaced LIBOR-based interest rate with SOFR-based rate including customary spread adjustment (effective 2023-03-16).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: Replaced LIBOR-based interest rate with SOFR-based rate including customary spread adjustment
Effective: 2023-03-16

Exact text from the filing

On March 16, 2023, Synaptics Incorporated (the “Company”) and Wells Fargo Bank, National Association, as the administrative agent (the “Administrative Agent”), entered into a Second Amendment (the “Second Amendment”) to the Company’s Second Amended and Restated Credit Agreement (as amended, the “Credit Agreement”), dated as of March 11, 2021, among the Company, as borrower, the lenders party thereto, and the Administrative Agent.

View on SEC.gov

276 material agreements filed in the last 30 days. Browse all material agreements →

SYNAPTICS Inc filing history →

Source: SEC EDGAR

accession 0001193125-23-073886

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.