Semtech enters $360 million revolving credit facility, repays JPMorgan-led loan
Semtech signed a new Credit Agreement on July 6, 2026, with Morgan Stanley Senior Funding as administrative agent. It includes a $360 million revolving credit facility, undrawn at closing, and an uncommitted incremental term loan, and it replaced the company's 2022 credit agreement, which was paid in full. The new facility matures July 6, 2031, and the filing says its loans and obligations are secured by substantially all company and guarantor assets, which matters to shareholders because it sets new borrowing terms and covenants.
Key points
- $360 million revolving credit facility, undrawn on the July 6, 2026 closing date, maturing July 6, 2031
- Incremental term loan capped at the greater of $332 million and 100% of Consolidated EBITDA, plus an unlimited amount if pro forma first lien net leverage is below 3.50:1.00
- Prior Third Amended and Restated Credit Agreement dated September 26, 2022, with JPMorgan Chase Bank, N.A. as agent, was terminated and paid in full
- Covenants require minimum interest coverage of 2.50:1.00 and maximum total net leverage of 4.00:1.00; a change of control is an event of default
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing 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 July 06, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.