2023-08-03 09:11:35 ET
- MACOM Technology Solutions Holdings ( NASDAQ: MTSI ) said it utilized about $121 million of the available cash and short-term investments as of June 30 to pay off the remaining balance of its outstanding term loans.
- “In this current high-interest rate environment, we believe it is prudent to retire this floating-rate debt obligation early and reduce our net interest costs by approximately $0.6 million per quarter,” said Jack Kober, Senior Vice President of MACOM.
- The term loans have a maturity date of May 2024.
- Source: Press Release
For further details see:
MACOM Technology liquidates short-term investments to pay off outstanding loans