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| MSCC > SEC Filings for MSCC > Form 8-K on 22-Feb-2013 | All Recent SEC Filings |
22-Feb-2013
Entry into a Material Definitive Agreement
On February 19, 2013, Microsemi Corporation, a Delaware corporation
("Microsemi") entered into (i) Amendment No. 4 ("Amendment No. 4") to its
existing Credit Agreement dated as of November 2, 2010, as amended by Amendment
No. 1 to the Credit Agreement, dated as of March 2, 2011, Amendment No. 2 to the
Credit Agreement, dated as of October 13, 2011, and Amendment No. 3 to the
Credit Agreement, dated as of February 17, 2012, which amended and restated the
existing Credit Agreement (such amended and restated Credit Agreement, the
"Existing Credit Agreement"; and as amended by Amendment No. 4), with Morgan
Stanley Senior Funding, Inc., Morgan Stanley & Co. LLC and the lenders referred
to therein.
Pursuant to the Existing Credit Agreement, certain lenders provided senior
secured first lien credit facilities, consisting of a term loan facility and a
revolving credit facility. Amendment No. 4 provides for, among other things,
(i) a new $726,000,000 tranche of term loans (the "New Term Loans"), which
replaced the term loans outstanding under the Existing Credit Agreement
immediately prior to the effectiveness of Amendment No. 4 (the "Replaced Term
Loans"), (ii) a term loan maturity date of February 19, 2020, (iii) new pricing
terms, and (iv) certain modifications to financial covenant provisions. Except
as modified by Amendment No. 4 as described above, the terms of the New Term
Loans are the same as the terms of the Replaced Term Loans.
The foregoing summary of Amendment No. 4 does not purport to be complete and is
subject to, and qualified in its entirety by, the full text of Amendment No. 4,
a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K
and 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 provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
10.1 Amendment No. 4 to Credit Agreement, dated as of February 19, 2013, by
and among Microsemi Corporation, Morgan Stanley Senior Funding, Inc.,
Morgan Stanley & Co. LLC and the lenders referred to therein.
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