Cohu amends credit agreement to replace LIBOR with Term SOFR as interest rate benchmark

COHU INC

Amendment replaces LIBOR with Term SOFR plus a spread adjustment for all purposes under the $350M credit facility.
Effective June 16, 2023; existing Eurodollar loans convert to SOFR loans by June 30, 2023.
No change to total commitment amount, covenants, or maturity; purely a benchmark transition.
Borrower paid customary fees and expenses; Required Lenders did not object within 5 business days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

COHU INC amended First Amendment to Credit and Guaranty Agreement with Deutsche Bank AG New York Branch (effective 2023-06-16).

Action: amendment
Agreement: credit facility
Counterparty: Deutsche Bank AG New York Branch
Effective: 2023-06-16

Exact text from the filing

On June 16, 2023, Cohu, Inc. (the “Company”) entered into the First Amendment to Credit and Guaranty Agreement (the “Amendment”), which amended the Company’s Credit and Guaranty Agreement, dated as of October 1, 2018, with Deutsche Bank AG New York Branch, as administrative agent, and the lenders named therein.

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Source: SEC EDGAR

accession 0001437749-23-018206

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