Cypress Semi enters credit deal to cut loan margins

|About: Cypress Semiconductor Corp... (CY)|By:, SA News Editor

Cypress Semiconductor (CY +2.2%) has entered an amended credit agreement that cuts the margin for some term loans outstanding.

In a filing, the company notes the $100M aggregate principal worth of term loans borrowed in 2015 will bear interest either at the base rate plus a 1.75% margin, or the Eurodollar rate plus a margin of 2.75%, at Cypress' option.