Teradyne signs USD 1 billion five-year revolving credit facility with PNC Bank-led group
TER•Teradyne enters new revolving credit facility
Teradyne entered a five-year senior secured revolving credit facility for USD 1 billion with PNC Bank as administrative agent.
Borrowings can fund working capital or general corporate purposes; no amounts were drawn at signing on Aug. 7, 2026.
Loan pricing is base rate plus 0% to 0.75% or SOFR plus 1% to 1.75%, with tighter spreads during an investment-grade suspension period.
The facility includes an unused commitment fee of 0.125% to 0.225% per year, reduced to 0.1% to 0.2% in the investment-grade period.
The facility is backed by subsidiary guarantees and collateral, with leverage capped at 3.5x, or 4x temporarily for larger acquisitions.
