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Get filing alertsAnalog Devices secures up to $3.0 billion revolving credit facility with 364-day term
Filed July 2, 2026 · Period ending July 2, 2026 · ~1 min read
Key Changes
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ADI entered a up to $3.0 billion revolving credit facility expiring July 1, 2027, with Bank of America as administrative agent and a syndicate of major banks, providing substantial short-term liquidity for general corporate purposes.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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The facility requires ADI to maintain a minimum interest coverage ratio of 3.00x (consolidated EBITDA to consolidated interest charges) starting with the first fiscal quarter after closing.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Interest rates are based on Term SOFR plus a margin of 0.48% to 0.925% depending on debt ratings, with facility fees of 0.020% to 0.075% on total commitments; multicurrency borrowing is available.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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The facility includes annual extension options with lender consent and the ability to convert outstanding loans to a one-year term loan before maturity for a 0.50% fee.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
Summary
Analog Devices has established a up to $3.0 billion revolving credit facility with a 364-day term, providing the semiconductor company with significant short-term liquidity. The facility, led by Bank of America with a syndicate of major banks including Citibank, JPMorgan, Morgan Stanley, Barclays, and BNP Paribas, expires July 1, 2027, though ADI can request annual extensions with lender consent or convert outstanding loans to a one-year term loan before maturity. The facility carries competitive pricing tied to ADI's credit ratings, with Term SOFR-based interest rates ranging from 0.48% to 0.925% above the benchmark.
The company must maintain a 3.00x interest coverage ratio (EBITDA to interest charges) starting with the first fiscal quarter after closing, a standard covenant that ensures adequate earnings relative to debt service obligations. For a company of ADI's scale and credit profile, this is a routine treasury management tool that provides financial flexibility for general corporate purposes without signaling any specific capital deployment plans.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify