Super Micro Computer Secures $2 Billion Revolving Credit Facility Led by JPMorgan Chase

Reuters
Jan 03
Super Micro Computer Secures $2 Billion Revolving Credit Facility Led by JPMorgan Chase

Super Micro Computer, Inc. has entered into a new Credit Agreement with JPMorgan Chase Bank, N.A., acting as administrative agent and collateral agent, along with various financial institutions as lenders. The agreement establishes a revolving credit facility with an initial aggregate principal amount of up to $2 billion, including a $200 million letter-of-credit sub-limit and a $150 million same-day borrowing sub-limit. The facility also includes an option to increase the aggregate principal amount by up to $1 billion, subject to certain conditions. The proceeds may be used for working capital and other general corporate purposes. The revolving credit facility matures on December 29, 2030, unless extended according to the agreement's terms. During any period when the company does not maintain investment grade ratings from at least two major agencies, the facility will be guaranteed by Super Micro and certain subsidiaries.

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