LATTICE SEMICONDUCTOR CORP

$2.3bn committed across 2 active facilities, next covenant test Sep 30, 2026. LSCC

Semiconductors & Related Devices

Recent changes

  1. Aug 4, 2026LATTICE SEMICONDUCTOR CORP signs $1.15bn Project Alta Commitment LetterSEC ↗
Tested otherHeadroom not yet measured3.50x
The Borrower shall maintain a Total Net Leverage Ratio (defined as the ratio of (x) total funded indebtedness minus unrestricted and unencumbered (other than liens in favor of the Administrative Agent) cash and cash equivalents then on hand … not to exceed $200 million to (y) Consolidated EBITDA …) of not greater than 3.50 to 1.00.
Read the filing on sec.gov ↗
Tested otherHeadroom not yet measured3.50x
The Borrower shall maintain a ratio of (x) Consolidated EBITDA to (y) consolidated interest expense, in each case for the most recently completed period of four consecutive fiscal quarters … of not less than 3.50 to 1.00.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured4.00x
  • From Jun 30, 2027 · 3.50x
As of the last day of any fiscal quarter ending during the periods specified below (which dates shall be deemed to correspond to the fiscal quarter ending on or about such applicable date), permit the Consolidated Total Net Leverage Ratio to be greater than the corresponding ratio set forth below:
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured3.00x
As of the last day of any fiscal quarter ending after the Closing Date, permit the Consolidated Interest Coverage Ratio to be less than 3.00 to 1.00 [=3x].
Read the filing on sec.gov ↗

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SECOND AMENDED AND RESTATED CREDIT AGREEMENTunconfirmed

Signed Jun 30, 2026

Committed
$1.15bn
Matures
Jun 2031
Agent
Wells Fargo Bank, National Association
TrancheSizeMaturesMargin
Revolving Credit Facility$200mJun 2031100–175 bps
Delayed Draw Term Loan$950mJun 2031100–175 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level IGreater than or equal to 2.50 to 1.00175 bps25 bps
Level IIGreater than or equal to 2.00 to 1.00, but less than 2.50 to 1.00150 bps20 bps
Level IIIGreater than or equal to 1.50 to 1.00, but less than 2.00 to 1.00125 bps18 bps
Level IVLess than 1.50 to 1.00100 bps15 bps

Priced over Term SOFR, floor 0 bps (Delayed draw term loan).

LevelConditionMarginUnused fee
Level IGreater than or equal to 2.50 to 1.00175 bpsn/a
Level IIGreater than or equal to 2.00 to 1.00, but less than 2.50 to 1.00150 bpsn/a
Level IIIGreater than or equal to 1.50 to 1.00, but less than 2.00 to 1.00125 bpsn/a
Level IVLess than 1.50 to 1.00100 bpsn/a

Lenders: Wells Fargo Securities, LLC, Morgan Stanley Senior Funding, Inc., Morgan Stanley MUFG Loan Partners, LLC, BOFA Securities, Inc., Citigroup Global Markets Inc., HSBC Securities (USA), Inc., JPMorgan Securities LLC, KeyBank National Association, PNC Capital Markets LLC, The Bank of Nova Scotia, U.S. Bank National Association

Project Alta Commitment Letter

Signed May 4, 2026

Committed
$1.15bn
Matures
n/a
Agent
Wells Fargo Bank, National Association
TrancheSizeMaturesMargin
Senior Secured Bridge Facility$950mn/an/a
Backstop Facility$200mn/an/a

Priced over Term SOFR, floor 0 bps (Term Loan A).

LevelConditionMarginUnused fee
Level flatall timesn/an/a

Lenders: Wells Fargo Securities, LLC, Morgan Stanley Senior Funding, Inc., Wells Fargo Bank, National Association

No amendments on file yet.

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