News Article
Microchip secures $750 million credit agreement
The provider of indium gallium phosphide / gallium arsenide HBTs has an option to increase the amount available to $1 billion and has a five-year term.
Microchip Technology has executed a $750 million unsecured credit agreement with a group of lenders. These include JP Morgan Securities and Wells Fargo Securities who served as Joint Bookrunners and Joint Lead Arrangers for this transaction.
Loans under this facility are expected to be used for general corporate purposes. The agreement has an option to increase the amount available to $1 billion and has a five-year term.
Steve Sanghi, President and CEO, said, “Microchip’s strong execution and business model have allowed us to put this revolving line of credit in place under very favourable terms. The facility provides us with additional flexibility to pursue our business objectives.”
