Methode Electronics amends credit agreement to replace LIBOR with SOFR and other benchmarks

METHODE ELECTRONICS INC

First Amendment to credit agreement transitions interest rate benchmarks from LIBOR to SOFR for USD loans and other local benchmarks for multi-currency loans.
Total revolving commitments remain $200M; no change in maturity or financial covenants.
Amendment effective Dec 10, 2021, upon execution and satisfaction of conditions including KYC documentation.
Covers ten different currency-specific benchmarks including EURIBOR, SONIA, SARON, and others.

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