Cirrus Logic entered into an amended and restated credit agreement with a group of lenders led by Wells Fargo as administrative agent.

The agreement provides for a $300 million senior secured revolving credit facility. The facility was used to refinance in full Cirrus Logic’s existing agreement dated August 29, 2014, as amended on June 23, 2015, and may also be used for general corporate purposes.

Bank of America served as syndication agent. Wells Fargo Securities served as sole lead arranger and sole bookrunner.

The credit facility matures on July 12, 2021. Cirrus Logic must repay the outstanding principal amount of all borrowings, together with all accrued but unpaid interest thereon, on the maturity date.

The credit facility is required to be guaranteed by all of Cirrus Logic’s material domestic subsidiaries. The facility is secured by substantially all of the assets of Cirrus Logic and any subsidiary guarantors, except for certain excluded assets.

Borrowings under the credit facility may, at Cirrus Logic’s election, bear interest at either a base rate plus the applicable margin or a LIBOR rate plus the applicable margin. The applicable margin ranges from 0% to .50% per annum for base rate loans and 1.25% to 2.00% per annum for LIBOR rate loans based on Cirrus Logic’s leverage ratio.