Lam Research expands revolver to $1.25 billion, extends maturity

By Marisa Wong

Morgantown, W.Va., Oct. 17 – Lam Research Corp. entered into a second amendment on Oct. 13 to its amended and restated credit agreement to increase the revolving credit facility to $1.25 billion from $750 million, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company entered into the amended and restated credit agreement on Nov. 10, 2015 with Goldman Sachs Bank, USA, JPMorgan Chase Bank, NA, Barclays Bank plc and Citibank, NA as joint bookrunners and joint lead arrangers and JPMorgan Chase Bank as administrative agent.

The second amendment also extends the maturity date to Oct. 13, 2022 from Nov. 10, 2020.

In addition, the amended credit agreement provides for an expansion option that would allow the company to request an increase in the facility of up to an additional $600 million, for a potential total commitment of $1.85 billion.

Lam Research is a Fremont, Calif.-based semiconductor manufacturing equipment company.

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