On January 30, 2013, Power-One, Inc. (the "Company") and certain of its subsidiaries entered into a $50,000,000 five year senior secured asset based revolving credit agreement ("Credit Agreement") with Bank of America, N.A. as the sole lender and administrative agent thereunder. All amounts outstanding under the Credit Agreement will be due and payable on January 30, 2018. The Credit Agreement amends and restates the Company's existing credit agreement dated March 29, 2011, which agreement was due to expire in 2014.

The Company's borrowings under the Credit Agreement (other than any swingline loans) will bear interest based on the London Interbank Offered Rate ("LIBOR"), plus an applicable margin or, at the option of the Company, the base rate ("Base Rate") plus an applicable margin. Each swingline loan shall bear interest at the Base Rate plus the applicable margin for Base Rate loans under the Credit Agreement.

The Credit Agreement includes usual and customary covenants for credit facilities of this type, including covenants limiting debt, investments, dividends, transactions with affiliates, liens, mergers, asset sales, and material changes in the business of the Company or its subsidiaries. The Credit Agreement also contains certain events of default, upon the occurrence of which, and so long as such event of default is continuing, the amounts outstanding may, at the option of the required lenders, be accelerated, or other remedies undertaken.

The foregoing description of the Credit Agreement is a summary and is qualified in its entirety by reference to the agreement itself, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

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

(d) Exhibits

Exhibit No.                                Description

       10.1   Amended and Restated Credit Agreement, dated as of January 30, 2013,
              by and among Power-One, Inc. and certain subsidiaries, as borrowers,
              and Bank of America, N.A., as Administrative Agent, Swing Line Lender
              and L/C Issuer, and the other lenders party thereto.