First Solar expands tranche A revolving commitments to $700 million

By Marisa Wong

Madison, Wis., June 5 – First Solar, Inc. entered into a fifth amendment on June 3 to its amended and restated credit agreement dated Oct. 15, 2010 with JPMorgan Chase Bank, NA as administrative agent to convert the tranche B revolving commitments into tranche A revolving commitments.

The conversion results in tranche A revolving commitments totaling $700 million with a maturity date of July 15, 2018, according to an 8-K filing with the Securities and Exchange Commission.

The company has the option to increase commitments under the amended credit agreement up to $900 million.

The amendment also effects some changes to the restrictions and covenants under the credit agreement.

First Solar is a Tempe, Ariz.-based provider of photovoltaic solar systems.

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