Microchip Technology Announces New Credit Agreement

Details

The proceeds can be used for working capital and general corporate purposes. The revolving loans bear interest at varying spreads based on the company's credit ratings and can be borrowed, repaid, and reborrowed until March 25, 2030. The agreement includes customary covenants and events of default, and certain of the company's domestic subsidiaries guarantee the obligations under the agreement.

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About Microchip Technology Inc.

Microchip Technology Inc. is a leading provider of microcontroller and analog semiconductors. The company's primary function is to design and manufacture embedded control solutions that include memory, mixed-signal, and linear components. These products are essential in enabling a wide range of applications across various industries, such as automotive, communications, computing, consumer electronics, and industrial sectors. Notably, Microchip's extensive portfolio supports the development of smart devices and IoT applications, fostering innovation in automation and connectivity. Headquartered in Chandler, Arizona, Microchip Technology Inc. plays a crucial role in the global semiconductor industry, facilitating technological advancements with its reliable and high-performance products. Through strategic acquisitions and developments, the company consistently expands its influence, serving a broad base of customers with comprehensive microcontroller and control solutions. With its commitment to quality and innovation, Microchip Technology Inc. is a pivotal player in driving the evolution of embedded control systems.