Qorvo adjusts covenants of $300 million revolving agreement

By Wendy Van Sickle

Columbus, Ohio, June 28 – Qorvo, Inc. amended its existing amended and restated senior credit facility that provides for a $300 million revolving line of credit on June 23 to make some covenant changes, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the maximum consolidated leverage ratio to 4x for the fiscal quarters ending July 1 and Sept. 30 and 3.5x for the fiscal quarters ending Dec. 30, 2023 and March 30, 2024.

There are no outstanding borrowings under the credit agreement.

Bank of America, NA is the administrative agent.

Qorvo provides core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications.

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