On April 11, 2025, Analog Devices, Inc. (the ?Company?) entered into a Fourth Amended and Restated Credit Agreement (?Revolving Credit Agreement?) among the Company, certain subsidiaries of the Company from time to time party thereto as Designated Borrowers, Bank of America, N.A. as Administrative Agent, Swing Line Lender and L/C Issuer, the several banks and other financial institutions from time to time parties thereto as lenders, JPMorgan Chase Bank, N.A., as syndication agent, Citibank, N.A., Morgan Stanley Senior Funding, Inc., Barclays Bank PLC and BNP Paribas Securities Corp., as co-documentation agents, and BofA Securities, Inc., JPMorgan Chase Bank, N.A., Citibank, N.A., Morgan Stanley Senior Funding, Inc., Barclays Bank PLC and BNP Paribas Securities Corp., as joint lead arrangers and joint bookrunners. The Revolving Credit Agreement, which amends and restates the Company?s existing third amended and restated revolving credit agreement dated as of June 23, 2021, provides for a 5-year revolving credit facility (?Revolving Credit Facility?) in an aggregate principal amount not to exceed $3.0 billion. The Revolving Credit Facility expires on April 11, 2030 and is currently undrawn.
In advance of each annual anniversary of the Closing Date, the Revolving Credit Agreement may be extended for an additional year from the maturity date then in effect at the request of the Company and with the consent of the lenders with no limit on the number of such extension requests. Borrowings under the Revolving Credit Agreement are prepayable at the Company?s option in whole or in part without premium or penalty. Amounts borrowed under the Revolving Credit Agreement may be repaid and reborrowed from time to time prior to the maturity date.
Loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans at the Company?s option. Each Term SOFR Loan will bear interest at a rate per annum equal to the applicable Term SOFR plus (x) a margin based on the Company?s Debt Ratings from time to time of between 0.46% and 0.90% and (y) a SOFR Adjustment of 0.10%. Each Base Rate Loan will bear interest at a rate per annum equal to the Base Rate.
In addition, the Company has agreed to pay a facility fee based on the Company?s Debt Ratings from time to time, at a rate per annum of between 0.040% and 0.100% times the actual daily amount of the Commitments in effect. The Revolving Credit Agreement includes a multicurrency borrowing feature for certain specified foreign currencies. The Company will guarantee the obligations of each subsidiary that is named a Designated Borrower under the Revolving Credit Agreement.
