Supermicro entered into a Term Loan Credit Agreement on July 19, 2024 with Bank of America, N.A. as administrative agent, providing an unsecured term loan facility of $500 million.

1. 01

   Supermicro entered into a Term Loan Credit Agreement on July 19, 2024 with Bank of America, N.A. as administrative agent, providing an unsecured term loan facility of $500 million.

2. 02

   The company said it will use the term loan proceeds for working capital and other general corporate purposes. Borrowings bear interest, at the company's option, at Term SOFR plus a 0.10% SOFR adjustment plus 1.25%, or at a base rate.

3. 03

   The company said the Term Loan Facility matures on January 17, 2025. The agreement includes covenants requiring the company to maintain a consolidated leverage ratio and restricting its subsidiaries' additional indebtedness, liens and dispositions of property.

4. 04

   The company also entered into an Eighth Amendment to its ABL Agreement on the same day. It said it is in talks to enter into a senior Revolving Credit Facility in the first quarter of fiscal 2025 to repay the term loan and the ABL Agreement. The company added that it cannot assure it will enter into the Revolving Credit Facility.

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Original filing

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