secwatch.observer — SEC 8-K summary
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Issuer:     Qorvo, Inc. (QRVO)
CIK:        0001604778
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001193125-24-118050
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Qorvo enters $325M senior revolving credit facility, maturing 2029
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- Five-year $325M unsecured revolving credit facility with Bank of America as agent; replaces 2020 facility.
- Interest based on Term SOFR or Base Rate; Applicable Rate initially 1.250% for SOFR loans (Leverage Ratio Pricing Level III).
- Financial covenant: max consolidated leverage ratio 3.50:1.0 (can rise to 4.00:1.0 for four quarters after >$300M acquisition).
- Facility may be increased by up to $325M subject to additional commitments; maturity April 23, 2029, extendable up to 2 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604778/000119312524118050/0001193125-24-118050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604778/000119312524118050/d813150d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-118050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer