Applied Materials extends $1.5 billion facility via JPMorgan to 2016

By Susanna Moon

Chicago, May 30 - Applied Materials, Inc. amended its $1.5 billion credit agreement last Friday with JPMorgan Chase Bank, NA as administrative agent, extending the maturity until May 25, 2016.

The four-year agreement had been set to expire on May 25, 2015, according to an 8-K filing with the Securities and Exchange Commission.

Morgan Stanley Senior Funding, Inc., Citibank, NA and Bank of Tokyo-Mitsubishi UFJ, Ltd. are the syndication agents.

Proceeds will be used for general corporate purposes. As of May 25, the company had not received any advances under the credit agreement, which was entered into on May 31, 2011.

Applied Materials is a Santa Clara, Calif., manufacturer of semiconductor equipment.

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