Summary
Amphenol Corporation (APH) announced on April 21, 2022, the entry into a new two-year, $750 million unsecured delayed draw term loan credit agreement, the "2022 Term Loan," maturing on April 19, 2024. This facility was undrawn at the time of closing and allows for up to five draws during its term. The proceeds are intended for general corporate purposes, providing Amphenol with financial flexibility for potential investments, acquisitions, or operational needs. The agreement offers a variable interest rate based on the Company's debt rating, linked to either the base rate or adjusted term SOFR. While the loan can be repaid early without penalty, prepaid amounts cannot be reborrowed. This move signals Amphenol's proactive approach to managing its capital structure and ensuring liquidity.
Key Highlights
- 1Secured a new $750 million unsecured delayed draw term loan credit agreement.
- 2The 2022 Term Loan has a maturity date of April 19, 2024.
- 3The credit facility was undrawn at the time of closing.
- 4The Company can draw funds up to five times during the loan's term.
- 5Proceeds are designated for general corporate purposes.
- 6Interest rates are variable, based on a spread over base rate or adjusted term SOFR, contingent on Amphenol's debt rating.
- 7The loan can be repaid early without any premium or penalty.