Qorvo expects to get larger revolver, terminates $125 million revolver

By Angela McDaniels

Tacoma, Wash., March 30 – Qorvo, Inc. terminated its four-year senior credit facility on Thursday in anticipation of entering into a new, larger revolver, according to an 8-K filing with the Securities and Exchange Commission.

The new revolver is expected to be finalized in April.

The terminated credit agreement included a $125 million revolving credit facility, which included a $5 million sublimit for standby letters of credit and a $5 million sublimit for swingline loans.

The company said that no borrowings were ever made under the credit agreement and that it incurred no early termination penalty.

Bank of America, NA was the administrative agent and a lender.

Qorvo provides core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications. It is based in Greensboro, N.C., and Hillsboro, Ore.

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