FIRST SOLAR, INC. (FSLR): debt financing — First Solar enters $1.5B unsecured revolver, terminates prior secured facility

FIRST SOLAR, INC.

New 5-year senior unsecured revolving credit facility of $1.5B, with $450M letter of credit sublimit.
Borrowings available for working capital and general corporate purposes; option to increase by $1B.
Interest based on Net Leverage Ratio (1.00%-1.50% Term SOFR + margin) or ratings-based if investment grade.
Concurrently terminated existing secured revolving credit agreement dated June 30, 2023, releasing collateral.
Financial covenants: Net Leverage ≤3.50x and Interest Coverage ≥3.00x; restricts debt, liens, dividends, investments.

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

FIRST SOLAR, INC. incurred revolving credit of $1,500,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus a margin of 1.000% to 1.500% maturing five years from the closing date.

Instrument: revolving credit
Principal: $1,500,000,000
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Term SOFR Rate plus a margin of 1.000% to 1.500%
Maturity: five years from the closing date
Event: incurrence

Exact text from the filing

The Credit Agreement provides the Company with a senior unsecured five-year revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $1,500,000,000, with a sub-limit of $450,000,000 available for the issuance of letters of credit.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

FIRST SOLAR, INC. terminated Existing Credit Agreement with JPMorgan Chase Bank, N.A. valued at Voluntary termination of senior secured revolving credit agreement dated June 30, 2023 (effective 2026-02-13).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: Voluntary termination of senior secured revolving credit agreement dated June 30, 2023
Effective: 2026-02-13

Exact text from the filing

On February 13, 2026, substantially concurrently with the Company’s entry into the Credit Agreement, the Company voluntarily terminated its existing senior secured revolving credit agreement (the “Existing Credit Agreement”), dated as of June 30, 2023 and as amended from time to time, 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, and JPMorgan Chase Bank, N.A., as administrative agent.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

FIRST SOLAR, INC. entered into Revolving Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A. valued at $1,500,000,000 senior unsecured five-year revolving credit facility with $450,000,000 sub-limit for (effective 2026-02-13).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $1,500,000,000 senior unsecured five-year revolving credit facility with $450,000,000 sub-limit for
Effective: 2026-02-13

Exact text from the filing

On February 13, 2026, 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”).

View on SEC.gov

26 debt financings filed in the last 30 days. Browse all debt financings →

FIRST SOLAR, INC. filing history →

Source: SEC EDGAR

accession 0001274494-26-000016

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.