Microchip Technology closes $750 million incremental term loan

By Wendy Van Sickle

Columbus, Ohio, Aug. 31 – Microchip Technology Inc. entered into a first incremental term loan amendment to its credit agreement dated Dec. 12, 2021 to provide for a $750 million incremental term loan on Thursday, according to an 8-K filed with the Securities and Exchange Commission.

The term loan was fully drawn at closing and bears interest at term SOFR plus a spread of 112.5 basis points to 150 bps, depending on credit ratings.

Proceeds may be used for working capital and general corporate purposes.

JPMorgan Chase Bank, NA is the administrative agent.

The Chandler, Ariz.-based company provides microcontroller, mixed-signal, analog and Flash-IP solutions.

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