Supermicro® Announces Closing of Refinancing
20 April 2018 - 6:05AM
Business Wire
Super Micro Computer, Inc. (NASDAQ:SMCI), a global leader
in high-performance, high-efficiency server, storage technology and
green computing, today announced that the Company has closed an
expanded new credit facility, replacing its existing amended credit
facility. The new credit facility led by Bank of America Merrill
Lynch received commitments from syndicate banks for an amount in
excess of $250 million for a 60% increase in borrowing capacity. In
addition, the new credit facility provides a conversion opportunity
to expand borrowing capacity to $400 million, after certain
conditions have been met.
“As Supermicro continues its strong growth momentum, it was
imperative that we increase our network of relationship banks as
well as total liquidity. Our new increased credit facility of $250
million in addition to our other existing credit facility allows an
upside in borrowing capacity to meet our immediate growth
objectives,” said Kevin Bauer, Chief Financial Officer. “We are
pleased to enter into this new corporate credit facility, which
provides flexibility for future capacity while we continue to
execute on our long term growth strategy.”
Cautionary Statement Regarding Forward Looking
Statements
Statements contained in this press release that are not
historical fact may be forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements may relate, among other things, to the status of the
Company’s compliance with its existing loan agreements. Such
forward-looking statements do not constitute guarantees of future
performance and are subject to a variety of risks and
uncertainties, including those set forth in the Company’s filings
with the Securities and Exchange Commission under the caption "Risk
Factors".
About Super Micro Computer, Inc.
Supermicro®, a global leader in high-performance,
high-efficiency server technology and innovation is a premier
provider of end-to-end green computing solutions for Data Center,
Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded
Systems worldwide. Supermicro's advanced Server Building Block
Solutions® offer a vast array of components for building
energy-efficient, application-optimized, computing solutions.
Architecture innovations include Twin, TwinPro, FatTwin™, Ultra
Series, MicroCloud, MicroBlade, SuperBlade®, Double-sided Storage®,
Battery Backup Power (BBP®) modules and WIO/UIO.
Products include servers, blades, GPU systems, workstations,
motherboards, chassis, power supplies, storage, networking, server
management software and SuperRack® cabinets and accessories,
delivering unrivaled performance and value.
Founded in 1993 and headquartered in San Jose, California,
Supermicro is committed to protecting the environment through its
"We Keep IT Green®" initiative. The Company has global logistics
and operations centers in Silicon Valley (USA), the Netherlands
(Europe) and its Science & Technology Park in Taiwan
(Asia).
Supermicro, FatTwin, TwinPro, SuperBlade, Double-Sided Storage,
BBP, SuperRack, Building Block Solutions and We Keep IT Green are
trademarks and/or registered trademarks of Super Micro Computer,
Inc.
All other brands, names and trademarks are the property of their
respective owners.
SMCI-F
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Investor Relations ContactSuper Micro Computer, Inc.Perry
G. Hayes, 408-895-6570SVP, Investor Relations