Semtech Announces Amendment To Its $400 Million Credit Agreement
16 Noviembre 2016 - 3:35PM
Semtech Corporation (Nasdaq:SMTC), a leading supplier of analog and
mixed-signal semiconductors, today announced it has executed a new
credit agreement consisting of a senior secured Term A loan
facility in the principal amount of $150 million and a senior
secured revolving credit facility in the principal amount of $250
million. This new credit agreement amends and restates
Semtech's existing $400 million credit facility that was set to
expire in May of 2018, and extends the maturity date to November
2021. The financial terms of the new credit agreement are
similar to those contained in the prior agreement.
Emeka Chukwu, Semtech’s Chief Financial Officer, stated “We were
pleased to be able to take advantage of the current favorable
market conditions to execute the new credit agreement. Under
the new agreement we were able to obtain several enhanced features
which should provide additional operational flexibility.”
Fourth quarter of fiscal year 2017 GAAP net income is expected
to be impacted by approximately $0.7 million in non-cash costs
associated with the amendment of the existing credit agreement.
About SemtechSemtech Corporation is a leading
supplier of analog and mixed-signal semiconductors for high-end
consumer, enterprise computing, communications and industrial
equipment. Products are designed to benefit the engineering
community as well as the global community. The company is dedicated
to reducing the impact it, and its products, have on the
environment. Internal green programs seek to reduce waste through
material and manufacturing control, use of green technology and
designing for resource reduction. Publicly traded since 1967,
Semtech is listed on the NASDAQ Global Select Market under the
symbol SMTC. For more information, visit
http://www.semtech.com.
Forward-Looking and Cautionary Statements All
statements contained herein that are not statements of historical
fact, including statements that use the words "should" or “designed
to” and the statement regarding the expected $0.7 million impact to
GAAP net income in the fourth quarter of fiscal year 2017 from the
amendment of the existing credit agreement, that describe Semtech
Corporation’s or its management’s future plans, objectives or goals
are “forward-looking statements” and are made pursuant to the
Safe-Harbor provisions of the Private Securities Litigation Reform
Act of 1995, as amended. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that could
cause the actual results of Semtech Corporation to be materially
different from the historical results and/or from any future
results or outcomes expressed or implied by such forward-looking
statements. Such factors are further addressed in Semtech
Corporation’s annual and quarterly reports, and in other documents
or reports, filed with the Securities and Exchange Commission
(www.sec.gov) including, without limitation, information under the
captions “Management's Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors.” Semtech
Corporation assumes no obligation to update any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this release, except as required by
law.
Semtech and the Semtech logo are registered trademarks or
service marks of Semtech Corporation and/or its affiliates.
Contact:
Sandy Harrison
Semtech Corporation
(805) 480-2004
webir@semtech.com
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