Advanced Energy amends credit deal, raises revolver to $600 million and repays $345 million term loan
Advanced Energy Industries signed Amendment No. 4 to its credit agreement on September 9, 2024, raising its revolving facility commitment by $400 million to $600 million, all currently available. The company used cash on hand to prepay in full the $345 million outstanding under its term loan, leaving its $575 million 2.50% convertible senior notes due 2028 as its only remaining debt, and the company says this should reduce net interest expense.
Key points
- Revolving facility commitment increased by $400 million to $600 million in aggregate, all currently available.
- Term loan facility of $345 million outstanding was prepaid in full using cash on hand, along with accrued interest.
- Accordion feature refreshed to allow an increase of up to $250 million in the aggregate, subject to conditions.
- Only remaining debt is $575 million of 2.50% convertible senior notes due 2028; interest rate swaps on the term loan expired September 10, 2024.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 11, 2024.
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