Microchip relaxes max total leverage ratio covenant to 4.75x for five quarters starting Dec 2024

MICROCHIP TECHNOLOGY INC

Max total leverage ratio amended to 4.75:1.00 for fiscal quarters ending Dec 2024 through Dec 2025; prior covenant was 3.50:1.00.
The 3.50:1.00 threshold still applies for incurrence tests on additional debt, investments, and restricted payments under the credit agreement.
Amendment dated Nov 8, 2024; involves JPMorgan Chase as administrative agent and multiple lenders including Wells Fargo, BofA, BMO.
No event of default occurred; all representations and warranties reaffirmed as of the amendment effective date.

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.