VSH - Vishay Intertechnology amends and restates $750M credit facility

2023-05-08 18:02:52 ET

• Vishay Intertechnology ( NYSE: VSH ) on Monday entered into an amendment and restatement of its $750 million credit facility.
• The amended and restated credit facility extends the maturity date of the revolving credit agreement until May 8, 2028.
• The amended and restated credit facility replaces the existing total leverage ratio used for financial covenant compliance measurement with a net leverage ratio.
• The amended and restated credit facility replaces the LIBOR-based interest rate and related LIBOR-based mechanics applicable to U.S. dollar borrowings under the revolving credit agreement with an interest rate based on the SOFR and related SOFR-based mechanics.
• The amended and restated credit facility also allows for borrowings in euro, British sterling, and Japanese yen, subject to a $250 million limit.
• Borrowings in foreign currency bear interest at a local reference rate plus an interest margin.
• Press Release .

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