TOKYO, Japan ― Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced its decision to draw the loan as described below.
1. Background of the loan
As announced in the press release “Regarding Acquisition of Stock of Altium Limited” issued on February 15, 2024, Renesas reached an agreement with Altium Limited (“Altium”) in which Renesas will acquire all outstanding shares of Altium, making Altium a wholly-owned subsidiary of Renesas, subject to the satisfaction of certain conditions (the “Acquisition”). In addition, as announced in the May 30, 2024 press release “Execution of Facilities Agreement for Altium Acquisition”, Renesas entered into a loan agreement (“Facilities Agreement") with a borrowing limit of 1 trillion yen. Under the Facilities Agreement, Renesas has applied the loan to provide a portion of the funds for the Acquisition.
2. Overview of the loan
(1) Total amount of the Loan: 938.0 billion yen
(2) Loan application date: July 19, 2024
(3) Drawdown date: July 24, 2024
(4) Final repayment date: The fifth anniversary of the drawdown date
(5) Major participating financial institutions: MUFG Bank, Ltd., Mizuho Bank, Ltd., and Sumitomo Mitsui Trust Bank, Ltd.
3. Future outlook
Renesas will make an announcement in a timely manner once any material impact is made to its business performance following the drawdown of the loan.
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, X, YouTube, and Instagram.