---
schema_version: "secwatch.filing_event.v1"
accession: "0001274494-23-000014"
form_type: "8-K"
ticker: "FSLR"
cik: "0001274494"
company_name: "FIRST SOLAR, INC."
filed_at: "2023-07-06T23:59:59+00:00"
generated_at: "2026-06-13T11:36:23.964735+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First Solar enters $1.0B senior secured revolving credit facility

## Summary
- Five-year credit facility for $1.0B, with a $250M letter of credit sublimit; can be upsized by $1.0B.
- Interest rates: Term SOFR + 0.10% spread adjustment + margin of 1.75%-2.25% (prior to investment grade).
- Covenants include max net leverage ratio of 3.50x and minimum interest coverage of 3.00x.
- Secured by substantially all assets, with collateral release upon achieving investment-grade ratings.
- Loan proceeds for working capital and general corporate purposes.

## SEC filing metadata
- accession: 0001274494-23-000014
- form_type: 8-K
- ticker: FSLR
- cik: 0001274494
- company_name: FIRST SOLAR, INC.
- filed_at: 2023-07-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1274494/000127449423000014/0001274494-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1274494/000127449423000014/fslr-20230630.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001274494-23-000014
- JSON: https://secwatch.observer/filing/0001274494-23-000014.json
- Plain text: https://secwatch.observer/filing/0001274494-23-000014.txt

## Key facts
- Debt Financings
  FIRST SOLAR, INC. incurred revolving credit of $1,000,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus 0.10% credit spread adjustment plus margin of 1.750% to 2.25 maturing five years.
  - Instrument: revolving credit
  - Principal: $1,000,000,000
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: Term SOFR Rate plus 0.10% credit spread adjustment plus margin of 1.750% to 2.25
  - Maturity: five years
  - Event: incurrence
  source text: On June 30, 2023, First Solar, Inc. (the “Company”) entered into a Revolving Credit and Guaranty Agreement (the “Credit Agreement”), among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”). The Credit Agreement provides the Company with a senior secured five-year revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $1,000,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1274494/000127449423000014/0001274494-23-000014-index.htm
- Material Agreements
  FIRST SOLAR, INC. entered into Revolving Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the several banks and other financial institutions or entities from time to time parties thereto valued at $1,000,000,000 (effective 2023-06-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the several banks and other financial institutions or entities from time to time parties thereto
  - Value: $1,000,000,000
  - Effective: 2023-06-30
  source text: On June 30, 2023, First Solar, Inc. (the “Company”) entered into a Revolving Credit and Guaranty Agreement (the “Credit Agreement”), among the Company, the guarantors from time to time party thereto, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1274494/000127449423000014/0001274494-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.