SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934
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|Item 1.01||Entry into a Material Definitive Agreement|
On June 1, 2021, TE Connectivity Ltd. (the “Company”) entered into a First Amendment to Credit Agreement, dated as of June 1, 2021 (the “First Amendment”), by and among the Company, as parent guarantor, its wholly-owned subsidiary, Tyco Electronics Group S.A. (“TEGSA”), as borrower, the lenders party thereto (the “Lenders”) and Bank of America, N.A., as administrative agent, which amends the Amended and Restated Five-Year Senior Credit Agreement dated as of November 14, 2018 (the “Existing Credit Agreement” and, as amended by the First Amendment, the “Credit Agreement”) by and among the Company, as parent guarantor, TEGSA, as borrower, the Lenders and Bank of America, N.A., as administrative agent, which provides for revolving credit commitments in the aggregate amount of $1,500,000,000.
The First Amendment amends the Existing Credit Agreement to, among other things, (i) extend the Maturity Date from November 14, 2023 to June 1, 2026, (ii) add provisions for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances and (iii) amend certain representations and warranties and covenants applicable to the Company and TEGSA as obligors under the Credit Agreement.
In the ordinary course of their respective businesses, one or more of the Lenders, or their affiliates, have or may have various relationships with the Company and its subsidiaries involving the provision of a variety of financial services, including cash management, commercial banking, investment banking, advisory or other financial services, for which they received, or will receive, customary fees and expenses. In addition, the Company and its subsidiaries may have entered into interest rate and foreign exchange derivative arrangements with one or more Lenders, or their affiliates.
Terms used above but not otherwise defined have the meaning provided in the First Amendment or the Credit Agreement, as applicable. This description of the First Amendment and the Credit Agreement is a summary only and is qualified in its entirety by the terms of the First Amendment and the Credit Agreement, as applicable. A copy of the First Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
|Item 2.03||Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant|
See the disclosure contained in Item 1.01 above, which is incorporated herein by reference.
|Item 9.01||Financial Statements and Exhibits|
|10.1||First Amendment to Credit Agreement, dated as of June 1, 2021, by and among Tyco Electronics Group S.A., as borrower, TE Connectivity Ltd., as parent guarantor, the lenders party thereto and Bank of America, N.A., as administrative agent (amending the Amended and Restated Five-Year Senior Credit Agreement dated as of November 14, 2018 by and among Tyco Electronics Group S.A., as borrower, TE Connectivity Ltd., as parent guarantor, the lenders party thereto and Bank of America, N.A., as administrative agent, filed as Exhibit 10.1 to Current Report on Form 8-K dated November 14, 2018 filed with the Securities and Exchange Commission on November 14, 2018)|
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: June 1, 2021||TE CONNECTIVITY LTD.|
|By:||/s/ Harold G. Barksdale|
|Name:||Harold G. Barksdale|
|Title:||Vice President and Corporate Secretary|