Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
AVIAT NETWORKS, INC. incurred credit facility of $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility with Wells Fargo Bank, National Association at Adjusted Term SOFR in effect from time to time plus the applicable margin; or th maturing May 8, 2028.
- Instrument
- credit facility
- Principal
- $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility
- Counterparty
- Wells Fargo Bank, National Association
- Rate
- Adjusted Term SOFR in effect from time to time plus the applicable margin; or th
- Maturity
- May 8, 2028
- Event
- incurrence
Exact text from the filing
On May 9, 2023, the Company entered into a Secured Credit Facility Agreement (the “Loan Facility” or the “Credit Agreement”) by and among the Company, Aviat U.S., Inc. (“Opco” and together with the Company the “U.S. Borrowers”,) Aviat Networks (S) Pte. Ltd. (the “Singapore Borrower” and together with the Company and Opco, the “Borrowers”) and Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender and Wells Fargo Securities LLC, Citigroup Global Markets Inc., and Regions Capital Markets as joint lead arrangers and joint bookrunners (the “Lender”). The Loan Facility provides for a $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility with a maturity date of May 8, 2028.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. entered into Credit Agreement with Wells Fargo Bank, National Association valued at $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility (effective 2023-05-09).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association
- Value
- $40 million revolving credit facility and a $50.0 million Delayed Draw Term Loan Facility
- Effective
- 2023-05-09
Exact text from the filing
On May 9, 2023, the Company entered into a Secured Credit Facility Agreement (the “Loan Facility” or the “Credit Agreement”) by and among the Company, Aviat U.S., Inc. (“Opco” and together with the Company the “U.S. Borrowers”,) Aviat Networks (S) Pte. Ltd. (the “Singapore Borrower” and together with the Company and Opco, the “Borrowers”) and Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender and Wells Fargo Securities LLC, Citigroup Global Markets Inc., and Regions Capital Markets as joint lead arrangers and joint bookrunners (the “Lender”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. terminated Third Amended and Restated Loan and Security Agreement with Silicon Valley Bank (effective 2023-05-09).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Silicon Valley Bank
- Effective
- 2023-05-09
Exact text from the filing
On May 9, 2023, the Company and Silicon Valley Bank (“SVB”) terminated the Third Amended and Restated Loan and Security Agreement dated June 29, 2018, and as amended May 17, 2021 (the “SVB Loan Agreement”), by and between the Company, as borrower, and SVB, as lender, pursuant to a termination letter (the “Termination Letter”).
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