8-KMaterial AgreementsFinancial EventsOther Events+1

AMPHENOL CORP /DE/ 8-K Report, Material Agreement (Jan 18, 2019)

Filed January 18, 2019For Securities:APH

Summary

Amphenol Corporation (APH) filed an 8-K on January 18, 2019, primarily to disclose significant updates to its debt financing arrangements. The company entered into an Amended and Restated Credit Agreement on January 15, 2019, which increases its total committed borrowing capacity under the facility to $2.5 billion. This expansion of available credit is a key development for the company's financial flexibility. Concurrently, Amphenol also announced an increase to its U.S. commercial paper program by $500.0 million, bringing the aggregate principal amount that can be outstanding at any time to $2.5 billion. This aligns with the increased credit facility, providing ample liquidity for general corporate purposes. These actions indicate a proactive approach by Amphenol to ensure robust financial resources are available to support its ongoing operations and strategic initiatives.

Key Highlights

  • 1Amphenol entered into an Amended and Restated Credit Agreement on January 15, 2019.
  • 2The new credit facility increases the aggregate commitments to $2.5 billion.
  • 3The company increased its U.S. commercial paper program by $500.0 million.
  • 4The U.S. commercial paper program's aggregate principal amount outstanding can now reach $2.5 billion.
  • 5The increased borrowing capacity is intended for general corporate purposes.
  • 6Undrawn amounts under the credit agreement can be used to repay commercial paper if needed.
  • 7The CFO, Craig A. Lampo, signed the report, indicating official corporate action.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the entry into an Amended and Restated Credit Agreement that significantly increases Amphenol's borrowing capacity and to announce an expansion of its U.S. commercial paper program.

Amphenol's aggregate commitments under its credit facility were increased to $2.5 billion through the Amended and Restated Credit Agreement.

The U.S. commercial paper program was increased by $500.0 million, allowing for an aggregate principal amount of up to $2.5 billion outstanding at any time.

The net proceeds from the issuance of commercial paper notes under the U.S. commercial paper program are expected to be used for general corporate purposes.