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4-Traders Homepage  >  Equities  >  Nasdaq  >  Maxim Integrated Products Inc.    MXIM

Delayed Quote. Delayed  - 07/01 06:48:54 pm
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MAXIM INTEGRATED PRODUCTS INC : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

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06/24/2016 | 11:25pm CEST

Item 1.01 Entry into a Material Definitive Agreement.

On June 23, 2016, Maxim Holding Company Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands ("MHCL") and a wholly-owned, indirect subsidiary of Maxim Integrated Products, Inc., a Delaware corporation ("Maxim"), entered into a credit agreement (the "Credit Agreement") with The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch (the "Lender"). The Credit Agreement provides for, among other things, the Lender making an unsecured term loan in an amount equal to $250,000,000 to MHCL and has a maturity date of June 22, 2017. The Credit Agreement contains customary representations, warranties and events of default, as well as certain restrictive covenants customary for facilities of this type, including restrictions on indebtedness, liens, fundamental changes and asset sales and transactions with affiliates.

Maxim executed a guaranty, dated as of June 23, 2016 (the "Guaranty") in favor of the Lender. Pursuant to the Guaranty, Maxim agreed to guarantee the payment of the obligations of MHCL to the Lender under the Credit Agreement in the event MHCL is unable to satisfy those obligations in the future. The Guaranty also contains certain other customary provisions.

The foregoing description of the Credit Agreement and Guaranty does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement and Guaranty, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on form 8-K and is incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit   Description
 10.1     Credit Agreement by and between Maxim Holding Company Ltd. and The Bank
          of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, dated June 23, 2016.
 10.2     Guaranty by Maxim Integrated Products, Inc. in favor of The Bank of
          Tokyo-Mitsubishi UFJ, Ltd., New York Branch, dated June 23, 2016.




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© Edgar Online, source Glimpses

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