Semtech Corporation, a leading supplier of analog and mixed-signal semiconductors, announced it has executed a new credit agreement consisting of a senior secured Term A loan facility in the principal amount of $150 million and a senior secured revolving credit facility in the principal amount of $250 million.  An 8-K filing with the SEC indicates that HSBC Bank USA, National Association served as administrative agent and as swing line lender and letter of credit issuer. This new credit agreement amends and restates Semtech's existing $400 million credit facility that was set to expire in May of 2018, and extends the maturity date to November 2021.  The financial terms of the new credit agreement are similar to those contained in the prior agreement.

Emeka Chukwu, Semtech’s Chief Financial Officer, stated “We were pleased to be able to take advantage of the current favorable market conditions to execute the new credit agreement.  Under the new agreement we were able to obtain several enhanced features which should provide additional operational flexibility.”

Fourth quarter of fiscal year 2017 GAAP net income is expected to be impacted by approximately $0.7 million in non-cash costs associated with the amendment of the existing credit agreement.

Semtech Corporation is a leading supplier of analog and mixed-signal semiconductors for high-end consumer, enterprise computing, communications and industrial equipment.