Semtech (SMTC) Amends $400M Credit Agreement with New Term Loan Facility; Sees Q4 non-Cash Charge
Get Alerts SMTC Hot Sheet
Revenue Growth %: -17.4%
Financial Fact:
Intangible amortization: 6.29M
Today's EPS Names:
RUSHA, SEIC, OSBC, More
Join SI Premium – FREE
Semtech Corporation (Nasdaq: SMTC) 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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hasbro (HAS) brand strength sees earnings top expectations
- Biogen (BIIB) tops earnings expectations but revenue falls short
- Helen of Troy (HELE) Tops Q4 EPS by 15c, Beats on Revenue; Offers FY25 EPS Guidance
Create E-mail Alert Related Categories
Corporate News, GuidanceSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!