Maxim upsizes revolver to $350 million, extends to June 27, 2019

By Tali Rackner

Norfolk, Va., July 1 – Maxim Integrated Products, Inc. entered into a first amendment to its senior unsecured revolving credit facility on Friday, increasing the total amount of the commitments under the facility to $350 million from $250 million, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent, and Bank of America, NA, Wells Fargo Bank, NA and Morgan Stanley MUFG Loan Partners, LLC are co-documentation agents.

The amendment also increases the incremental facility to $150 million from $100 million; extends the maturity date to June 27, 2019 from Oct. 13, 2016; and allows the company to request additional one-year extensions of the maturity of the loans and commitments of consenting lenders on up to two occasions prior to June 27, 2016.

In addition, it modifies the index debt rating based pricing by reducing the facility fee, increasing the applicable margin for Eurocurrency loans and increasing the applicable margin for alternate base rate loans.

Maxim is a San Jose, Calif.-based maker of analog integrated circuits.

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