TE Connectivity amends $1.5 billion revolver, extends maturity to 2029

By Mary-Katherine Stinson

Lexington, Ky., April 25 – TE Connectivity Ltd. entered into a second amended and restated agreement to its $1.5 billion revolving credit facility on April 24 with subsidiary Tyco Electronics Group SA as borrower to extend the maturity date to April 24, 2029, according to an 8-K filing with the Securities and Exchange Commission.

Prior to the agreement, the maturity date had been set for June 1, 2026.

Additionally, the amendment also adds provisions permitting the contemplated merger and change in jurisdiction of incorporation of the company. It allows TE Connectivity plc to succeed the company as the parent guarantor and adds TE Connectivity Switzerland Ltd. as the intermediate guarantor.

Bank of America, NA is the administrative agent.

Deutsche Bank Securities Inc. and J.P. Morgan Chase Bank, NA are the co-syndication agents.

BNP Paribas Securities Corp., Citibank NA and Goldman Sachs Bank NA are the co-documentation agents.

Bank of China New York Branch, Barclays and Bank of Nova Scotia are the senior managing agents.

BofA Securities, Inc., BNP Paribas, Citibank, Deutsche Bank, JPMorgan and Goldman Sachs are the joint bookrunners and joint lead arrangers.

The credit agreement was originally dated Nov. 14, 2018.

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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