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Super Micro Computer | 8-K: Current report

SEC ·  Jul 22, 2024 09:06

Summary by Futu AI

Super Micro Computer has entered into a $500 million Term Loan Credit Agreement with Bank of America on July 19, 2024. The unsecured facility, maturing on January 17, 2025, will provide working capital and support general corporate purposes. The loan bears interest at either Term SOFR plus 1.35% or a base rate plus 0.25%.The company simultaneously amended its existing ABL Agreement to accommodate the new Term Loan Facility. The agreement includes standard covenants regarding leverage ratios, subsidiary debt limitations, and restrictions on liens and fundamental changes.Looking ahead, Super Micro Computer is in discussions to establish a new Revolving Credit Facility in Q1 FY2025, which is expected to refinance and replace both the Term Loan Facility and ABL Agreement, though final terms remain subject to negotiation.
Super Micro Computer has entered into a $500 million Term Loan Credit Agreement with Bank of America on July 19, 2024. The unsecured facility, maturing on January 17, 2025, will provide working capital and support general corporate purposes. The loan bears interest at either Term SOFR plus 1.35% or a base rate plus 0.25%.The company simultaneously amended its existing ABL Agreement to accommodate the new Term Loan Facility. The agreement includes standard covenants regarding leverage ratios, subsidiary debt limitations, and restrictions on liens and fundamental changes.Looking ahead, Super Micro Computer is in discussions to establish a new Revolving Credit Facility in Q1 FY2025, which is expected to refinance and replace both the Term Loan Facility and ABL Agreement, though final terms remain subject to negotiation.

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