Summary by Moomoo AI
On July 19, 2024, Super Micro Computer, Inc. announced the entry into a Term Loan Credit Agreement with Bank of America, N.A. acting as the administrative agent. The agreement secures a $500 million term loan facility for the company, intended to support ongoing working capital and other general corporate purposes. The unsecured term loan facility offers interest options including a Term SOFR plus a margin or a base rate determined by several benchmarks plus a margin. Super Micro Computer has agreed to customary negative covenants with the lenders, which include maintaining certain financial ratios and restrictions on additional indebtedness and asset disposition. The term loan is set to mature on January 17, 2025. Concurrently, the company amended its existing Loan and Security Agreement to...Show More