TE Connectivity amends $1.5 billion revolver, extends maturity to 2026

By Wendy Van Sickle

Columbus, Ohio, June 1 – TE Connectivity Ltd. entered into an amendment to its $1.5 billion revolving credit facility on Tuesday with subsidiary Tyco Electronics Group SA as borrower to extend the maturity date to June 1, 2026, according to an 8-K filing with the Securities and Exchange Commission.

Prior to the amendment, the maturity date had been set for Nov. 14, 2023.

The amendment also adds provisions for determining an alternative rate of interest in the event that Libor is no longer available or in certain other situations.

Additionally, some representations and warranties and covenants were amended.

The credit agreement is originally dated Nov. 14, 2018, and Bank of America, NA is the administrative agent.

Based in Schaffhausen, Switzerland, TE Connectivity designs and manufactures electronic connection products for industries, including automotive, energy and industrial, broadband communications, consumer devices, health care and aerospace and defense.

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