ADI signs a $3.0 billion 364-day revolving credit facility maturing July 1, 2027

Analog Devices entered into a credit agreement for up to $3.0 billion of revolving credit, with Bank of America as administrative agent. The facility is a 364-day revolver with an initial maturity of July 1, 2027, and the company can ask for annual one-year extensions. Borrowings can be prepaid without premium or penalty, apart from lender breakage costs.

• Facility size: up to $3.0 billion aggregate principal.
• Tenor: 364 days; initial maturity July 1, 2027.
• Option to convert outstanding loans into a non-amortizing term loan due one year after the initial maturity, for a 0.50% fee.
• Filing lists Items 1.01, 2.03 and 9.01; no use of proceeds stated.