Analog Devices’ $2.5 Billion Sustainability-Linked Credit Facility

Wilmer Cutler Pickering Hale and Dorr LLP advised Analog Devices, Inc. on the deal.

Analog Devices, Inc. (“ADI”), a world leader in the design, manufacture, and marketing of a broad portfolio of high performance analog, mixed-signal, and digital signal processing integrated circuits, announced the refinancing of its existing credit facility with Bank of America, N.A. in its capacity as administrative agent, and the other financial institutions party thereto pursuant to an amended and restated credit agreement (the “Credit Agreement”). 

The Credit Agreement provides for, among other things, a $2.5 billion sustainability-linked senior revolving credit facility, with half of the $2.5 billion to become available upon the consummation of ADI’s acquisition of Maxim Integrated Products, Inc., and an extension of the maturity date to June 23, 2026. Under the terms of the Credit Agreement, ADI will receive a sustainability-linked pricing adjustment based on its performance against environmental criteria during the Credit Agreement’s five-year term. ADI’s progress will be measured on two key performance indicators within ADI’s main manufacturing facilities, namely using renewable energy and reducing greenhouse gas emissions. The Credit Agreement closed on June 23, 2021. 

The team representing ADI consisted of Justin Ochs (Picture), Erika Robinson, Rob Isham and Lorri Strizich, with support from Julie Hogan Rodgers. 

Involved fees earner: Julie Hogan Rodgers – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Rob Isham – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Justin Ochs – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Erika Robinson – WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Law Firms: WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Clients: Analog Devices;

Author: Martina Bellini

Analog Devices’ $2.5 Billion Sustainability-Linked Credit Facility

Wilmer Cutler Pickering Hale and Dorr LLP advised Analog Devices, Inc. on the deal.

Analog Devices, Inc. (“ADI”), a world leader in the design, manufacture, and marketing of a broad portfolio of high performance analog, mixed-signal, and digital signal processing integrated circuits, announced the refinancing of its existing credit facility with Bank of America, N.A. in its capacity as administrative agent, and the other financial institutions party thereto pursuant to an amended and restated credit agreement (the “Credit Agreement”). 

The Credit Agreement provides for, among other things, a $2.5 billion sustainability-linked senior revolving credit facility, with half of the $2.5 billion to become available upon the consummation of ADI’s acquisition of Maxim Integrated Products, Inc., and an extension of the maturity date to June 23, 2026. Under the terms of the Credit Agreement, ADI will receive a sustainability-linked pricing adjustment based on its performance against environmental criteria during the Credit Agreement’s five-year term. ADI’s progress will be measured on two key performance indicators within ADI’s main manufacturing facilities, namely using renewable energy and reducing greenhouse gas emissions. The Credit Agreement closed on June 23, 2021. 

The team representing ADI consisted of Justin Ochs (Picture), Erika Robinson, Rob Isham and Lorri Strizich, with support from Julie Hogan Rodgers. 

Involved fees earner: Julie Hogan Rodgers – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Rob Isham – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Justin Ochs – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Erika Robinson – WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Law Firms: WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Clients: Analog Devices;

Author: Martina Bellini