[August 24, 2011] Microchip Technology Enters $750 Million Credit Agreement Tweet Aug 24, 2011 (Close-Up Media via COMTEX) -- Microchip Technology, Inc., a provider of microcontroller, analog and Flash-IP solutions, announced that it has executed a new $750 million unsecured credit agreement with a group of lenders. In a release on Aug. 18, the company said loans under this facility are expected to be used for general corporate purposes. The agreement has an option to increase the amount available to $1 billion and has a five-year term. Steve Sanghi, President and CEO, said, "Microchip's strong execution and business model have allowed us to put this revolving line of credit in place under very favorable terms. The facility provides us with additional flexibility to pursue our business objectives." JP Morgan Securities and Wells Fargo Securities served as Joint Bookrunners and Joint Lead Arrangers for this transaction. Microchip is headquartered in Chandler, Ariz. More information: www.microchip.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]