Summary by Futu AI
On January 2, 2025, GlobalFoundries Inc. prepaid its entire outstanding Term Loan A, totaling $664 million, including all loans and accrued interest. This action resulted in the irrevocable and unconditional release of assets previously pledged as common security under certain senior facilities, including the Term Loan A and Revolving Credit Facility.The prepayment affected the term facilities agreement dated November 11, 2020, involving multiple financial institutions. Concurrently, the Security Trust Deed dated November 12, 2020, governing the pledged assets, was executed as per its terms.GlobalFoundries' Revolving Credit Facility, established on October 13, 2021, remains available to the company on an unsecured basis following the release of the common security. This facility involves various global financial institutions and continues to provide financial flexibility to the company.