BREAKING: TE Connectivity signs a $3.0B five‑year revolving credit facility to back its commercial paper,…
Filed with the SEC on · Summarized by InvestorsBot
BREAKING: TE Connectivity signs a $3.0B five‑year revolving credit facility to back its commercial paper, replacing the prior $1.5B deal 🚨💵 $TEL #BREAKING #TEL #Liquidity #Credit
ALERT: New facility matures Feb 13, 2031 (TEGSA can extend up to two 1‑yr terms) and includes a $1B accordion option — material boost to $TEL’s liquidity runway 📈🔒 $TEL #Liquidity #CorporateDebt #FinTwit
Confirmed: Facility contains a 3.75x Consolidated Total Debt/EBITDA covenant (4.25x if a Qualified Acquisition occurs) — breach triggers an Event of Default. Interest = Term SOFR/alt base; facility fee 5–12.5bps ⚖️📝 $TEL #Covenants #Risk #Investing
ALERT: Borrower = Tyco Electronics Group S.A.; TE Connectivity (parent) & Swiss unit are guarantors; Bank of America is administrative agent. Existing $1.5B agreement terminated with no early fee; full credit agreement filed (Exhibit 10.1) 🏦📄 $TEL #Banking #TEL