Analog Devices Announces $2.5 Billion Sustainability-Linked Revolving Credit Facility
23 Junho 2021 - 5:00PM
Business Wire
Analog Devices, Inc. (Nasdaq: ADI) today announced that it has
successfully executed a $2.5 billion sustainability-linked senior
revolving credit facility (the “facility”), replacing its existing
$1.25 billion senior revolving credit facility. Half of the $2.5
billion facility will become available only upon the consummation
of ADI’s acquisition of Maxim Integrated Products, Inc.
ADI is one of the first U.S. semiconductor companies to issue a
sustainability-linked revolving credit facility, reinforcing the
company’s commitment to sustainability. Under the terms of the
facility, ADI receives a pricing adjustment based on its
performance against environmental criteria during the facility’s
five-year term. ADI’s progress will be measured on two key
performance indicators within the company’s main manufacturing
facilities, namely using renewable energy and reducing greenhouse
gas emissions.
“At ADI, we are dedicated to playing a leading role across the
semiconductor industry in enabling the transition towards a
low-carbon economy. This sustainability-linked revolving credit
facility will help mobilize our company’s resources in the fight
against climate change,” said Prashanth Mahendra-Rajah, Chief
Financial Officer of Analog Devices. “Additionally, incorporating
environmental impact metrics into the financing structure allows us
to strive toward our sustainability and financial goals in
tandem.”
The facility supports ADI’s broader climate strategy, including
aiming to achieve carbon neutrality by 2030 and net zero emissions
by 2050; committing to set targets to be verified by the Science
Based Targets initiative (SBTi); signing the United Nations’
Business Ambition for 1.5°C pledge; and partnering with the Woods
Hole Oceanographic Institution (WHOI) to launch a consortium to
advance knowledge of the ocean’s role in combatting climate change.
More details on these commitments and initiatives can be found in
ADI’s 2020 Corporate Responsibility Report published earlier this
year.
About Analog Devices, Inc.
Analog Devices (Nasdaq: ADI) is a leading global
high-performance semiconductor company dedicated to solving the
toughest engineering challenges. We enable our customers to
interpret the world around us by intelligently bridging the
physical and digital with unmatched technologies that sense,
measure, power, connect and interpret. Visit
http://www.analog.com.
(ADI-WEB)
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Investors: Mr. Michael Lucarelli 781-461-3282
investor.relations@analog.com
Media: Ms. Brittany Stone 917-935-1456
Brittany.Stone@teneo.com
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