TOKYO, Japan ― Renesas Electronics Corporation (“Renesas”, TSE:6723), a premier supplier of advanced semiconductor solutions, today announced that it has decided to change the repayment date of the syndicate loan agreement and the loan agreement with the Japan Bank for International Cooperation (“JBIC loan agreement”), as announced in the press release “Notice Concerning Refinancing of Loans” issued on December 23, 2021. Details are as follows.
1. Background of the Partial Amendment
To maintain financial soundness and ensure a stable financial foundation, Renesas has changed the repayment date to accommodate the upcoming early repayment in accordance with the contract terms.
2. Details of the Amendment (Amendment is Underlined.)
[Before amendment]
| Syndicate loan agreement | JBIC loan agreement | |
|---|---|---|
| Loan type | Term loan | |
| Loan amount (Note 6) | 96.0 billion yen | 144.0 billion yen |
| Execution date of agreement | December 23, 2021 | |
| Borrowing date | December 30, 2021 | |
| Repayment date | End of December, 2026 | |
| Participating financial institutions | MUFG Bank, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited., Resona Bank, Limited., Aozora Bank, Ltd., Shinkin Central Bank, The Norinchukin Bank, Bank of America NA Tokyo Branch | Japan Bank for International Cooperation |
Note: Out of the 270.0 billion yen of Existing Loans, the total loan amount is 240.0 billion yen, which excludes the 30.0 billion yen already repaid
[After amendment]
| Syndicate loan agreement | JBIC loan agreement | |
|---|---|---|
| Loan type | Term loan | |
| Loan amount (Note 6) | 96.0 billion yen | 144.0 billion yen |
| Execution date of agreement | December 23, 2021 | |
| Borrowing date | December 30, 2021 | |
| Repayment date | December 30, 2025 | |
| Participating financial institutions | MUFG Bank, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited., Resona Bank, Limited., Aozora Bank, Ltd., Shinkin Central Bank, The Norinchukin Bank, Bank of America NA Tokyo Branch | Japan Bank for International Cooperation |
Note: Out of the 270.0 billion yen of Existing Loans, the total loan amount is 240.0 billion yen, which excludes the 30.0 billion yen already repaid
3. Future outlook
No material impact is anticipated on Renesas’ fiscal 2025 consolidated performance.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE:6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.