Analog Devices 8-K
Debt financing
New multicurrency revolver provides short-term borrowing capacity, with lender-approved annual extensions and a term-loan conversion option.
Filed 2026-07-02 16:05 ET
- 1.01 Entry into a Material Agreement
- 2.03 Creation of a Financial Obligation
- 9.01 Financial Statements and Exhibits
Summary
A new revolving credit facility. Analog Devices entered into a 364-day, multicurrency facility with commitments of up to $3.0B, providing access to revolving borrowing through 7/1/2027.
Key Figures
- Facility commitment: up to $3.0B in principal; this is borrowing capacity, not a reported borrowing. Term SOFR loans carry a margin of 0.48%-0.925%, based on the company’s debt ratings; the annual facility fee is 0.020%-0.075% of commitments.
- Maturity: 7/1/2027; the company may request annual one-year extensions subject to lender consent. It may also convert some or all outstanding loans into a non-amortizing term loan due one year after the initial maturity, subject to conditions and a 0.50% fee on the converted principal.
- Financial covenant: beginning with the first fiscal quarter ending after closing, consolidated EBITDA must be at least 3.00x consolidated interest charges for each fiscal quarter.
The summary is written by an AI model reading the filing.
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