TERADYNE, INC (TER) Form 8-K — Aug 10, 2026
On August 7, 2026, Teradyne entered into a new five-year, $1.0 billion senior secured revolving credit facility with PNC Bank, National Association as administrative agent, succeeding the credit agreement dated May 1, 2020 that was administered by Truist Bank. The facility matures on August 7, 2031 and includes a $100 million letter of credit sublimit. Pricing is leverage-based: SOFR (with a 0.00% floor) plus a 1.00%-1.75% margin or base rate plus 0.00%-0.75%, with commitment fees of 0.125%-0.225% on unused capacity.
Key figures
- Interest Rate
- SOFR (0.00% floor) plus 1.00%-1.75% margin, or base rate plus 0.00%-0.75% margin, based on consolidated leverage ratio
- Maturity Date
- August 7, 2031
- Commitment Fee Range
- 0.125%-0.225% per annum on unused commitments
- Amount Borrowed At Closing
- 0
- Letter Of Credit Sublimit Usd
- 100000000
- Acquisition Leverage Holiday
- 4.00:1.00 for the quarter of an acquisition exceeding $200 million plus the following three quarters
- Revolving Credit Facility Usd
- 1000000000
- Min Interest Coverage Covenant
- 2.50:1.00
- Foreign Subsidiary Stock Pledge
- 65%
- Change Of Control Default Threshold
- 35% of voting power
- Max Consolidated Leverage Covenant
- 3.50:1.00
Price after filing
Close on the filing date to close N calendar days later (from $365.10). Historical, not a forecast.
AI analysis
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