MACOM Pays Off Outstanding Term Loans
03 Août 2023 - 1:25PM
Business Wire
MACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ:
MTSI), a leading supplier of semiconductor products, today
announced that it has utilized approximately $121 million of its
$588 million of available cash and short-term investments as of
June 30, 2023 to pay off the remaining balance of its outstanding
term loans. The term loans have a maturity date of May 2024.
“In this current high interest rate environment, we believe it
is prudent to retire this floating-rate debt obligation early and
reduce our net interest costs by approximately $0.6 million per
quarter,” said Jack Kober, Senior Vice President and Chief
Financial Officer, MACOM.
About MACOM
MACOM designs and manufactures high-performance semiconductor
products for the Telecommunications, Industrial and Defense and
Datacenter industries. MACOM services over 6,000 customers annually
with a broad product portfolio that incorporates RF, Microwave,
Analog and Mixed Signal and Optical semiconductor technologies.
MACOM has achieved certification to the IATF16949 automotive
standard, the ISO9001 international quality standard and the
ISO14001 environmental management standard. MACOM operates
facilities across the United States, Europe, Asia and is
headquartered in Lowell, Massachusetts. To learn more visit
www.macom.com.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on
MACOM management’s beliefs and assumptions and on information
currently available to our management. These forward-looking
statements include, among others, statements about MACOM’s debt
obligations and any potential net interest cost or related savings.
These forward-looking statements reflect MACOM’s current views
about future events and are subject to risks, uncertainties,
assumptions and changes in circumstances that may cause those
events or our actual activities or results to differ materially
from those indicated by the forward-looking statements, including,
among other things, risks related to the ability of MACOM to
realize the anticipated benefits of the prepayment of its term
loans, MACOM’s ability to successfully supply, market and
distribute its products and other business effects, including the
effects of industry, market, economic, political or regulatory
conditions, and those other factors described in “Risk Factors” in
MACOM’s filings with the Securities and Exchange Commission
(“SEC”), including its Annual Report on Form 10-K, its Quarterly
Reports on Form 10-Q and other filings with the SEC. These
forward-looking statements speak only as of the date of this press
release, and MACOM undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230803456565/en/
MACOM Technology Solutions Holdings, Inc. Stephen
Ferranti Vice President, Strategic Initiatives and Investor
Relations P: 978-656-2977 E: stephen.ferranti@macom.com
MACOM Technology Solutions (NASDAQ:MTSI)
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