MICROCHIP TECHNOLOGY INC (MCHP): debt financing — Microchip Technology enters $2.25B revolving credit facility through 2030

MICROCHIP TECHNOLOGY INC

Facility size $2.25B with $250M foreign currency sublimit; no loans outstanding at closing.
Matures March 25, 2030; interest based on SOFR/EURIBOR + 0.875%–1.50% or base rate + 0.00%–0.50% depending on credit ratings.
Commitment fee 0.075%–0.20% per annum on undrawn amounts.
Financial covenants: maximum total leverage and minimum interest coverage ratios.
Amends and restates existing credit agreement; aggregate commitments reduced.

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

MICROCHIP TECHNOLOGY INC incurred revolving credit of up to $2,250.0 million with JPMorgan Chase Bank, N.A., as administrative agent at base rate plus a spread of 0.0% to 0.50%, an adjusted daily simple SOFR rate (or maturing March 25, 2030.

Instrument: revolving credit
Principal: up to $2,250.0 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: base rate plus a spread of 0.0% to 0.50%, an adjusted daily simple SOFR rate (or
Maturity: March 25, 2030
Event: incurrence

Exact text from the filing

The Restated Credit Agreement provides for an unsecured revolving loan facility (the "Revolving Loans") in an aggregate principal amount of up to $2,250.0 million, with a $250.0 million foreign currency sublimit, a $25.0 million letter of credit sublimit and a $20.0 million swingline loan sublimit.

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Source: SEC EDGAR

accession 0001193125-25-062534

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