Summary
Keysight Technologies, Inc. (KEYS) announced on July 21, 2015, a significant enhancement to its financial flexibility through an amendment to its Credit Agreement. The company has increased its unsecured credit facility by $150 million, bringing the total committed amount to $450 million. This expansion provides Keysight with greater access to capital, which can be utilized for strategic initiatives, operational needs, or to navigate potential market fluctuations. The existing Credit Agreement, initially established on September 15, 2014, for $300 million and set to expire on October 1, 2019, now offers a more robust financial foundation. Furthermore, the amendment preserves the option to increase the facility by an additional $150 million under customary conditions, underscoring the company's proactive approach to managing its capital structure and ensuring continued operational and growth support.
Key Highlights
- 1Increased unsecured credit facility by $150 million.
- 2Total aggregate commitments under the credit facility now stand at $450 million.
- 3The credit facility has an expiration date of October 1, 2019.
- 4The amendment confirms the increase via a Letter Agreement dated July 21, 2015.
- 5The company retains the option for further increases of up to $150 million.
- 6This action enhances Keysight's financial flexibility and access to capital.