KLA Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt

Debt

6个月结束了

Dec. 31, 2018

债务披露[摘要]

DEBT

注8 - 债务

下面的表summarizes our debt as of December 31, 2018 和 2018年6月30日 :



	截至2018年12月31日					作为2018年6月30日
	数量 (In thousands)			Effective Interest Rate		数量 (In thousands)			Effective Interest Rate
固定利率3.375％高级票据于2019年11月1日到期	$	250,000		3.377	%	$	250,000		3.377	%
Fixed-rate 4.125% Senior Notes due on November 1, 2021	500,000			4.128	%	500,000			4.128	%
Fixed-rate 4.650% Senior Notes due on November 1, 2024 ⁽¹⁾	1,250,000			4.682	%	1,250,000			4.682	%
固定利率5.650％高级票据于2034年11月1日到期	250,000			5.670	%	250,000			5.670	%
Total	2,250,000					2,250,000
无摊折扣	（2,343		)			(2,523		)
Unamortized debt issuance costs	(9279		)			(10,075		)
Total	$	2,238,378				$	2,237,402
报告为：
当前部分长期债务	$	249,996				$	—
长期债务	1,988,382					2,237,402
Total	$	2,238,378				$	2,237,402

__________________


(1)	The effective interest rate disclosed above for this series of Senior Notes excludes the impact of the treasury rate lock hedge discussed below. The effective interest rate including the impact of the treasury rate lock hedge was 4.626% .

作为 December 31, 2018 , future principal payments for the long-term debt are 250.0美元million 在财政年度 2020. ; 5000万美元在财政年度 2022. ;和 $1.50 billion after fiscal year 2023. .

Senior Notes:

2014年11月，我们发布了 $2.50 billion 作为杠杆式核准计划的一部分，总额的高级长期票据（统称为“高级票据”）总额。

The interest rate specified for each series of the Senior Notes will be subject to adjustments from time to time if Moody’s Investor Service, Inc. (“Moody’s”) or Standard & Poor’s Ratings Services (“S&P”) or, under certain circumstances, a substitute rating agency selected by us as a replacement for Moody’s or S&P, as the case may be (a “Substitute Rating Agency”), downgrades (or subsequently upgrades) its rating assigned to the respective series of Senior Notes such that the adjusted rating is below investment grade. In October 2014, we entered into a series of forward contracts to lock the 10-year treasury rate (“benchmark rate”) on a portion of the Senior Notes with a notional amount of $1.00 billion 合计。有关其他详细信息，请参阅本报告的附注15，“衍生工具和套期保值活动”，并注明本财政年度表格10-K的年度报告中包含的综合财务报表附注7“债务” 2018年6月30日 .

The original discount on the Senior Notes amounted to $4.0 million 和is being amortized over the life of the debt. Interest is payable semi-annually 每年5月1日和11月1日。高级票据的契约（“契约”）包括限制我们对我们设施授予留置权的能力并进入销售和储存交易的契约，而某些销售和租赁交易不受限制。

In certain circumstances involving a change of control followed by a downgrade of the rating of a series of Senior Notes by at least two of Moody’s, S&P and Fitch Inc., unless we have exercised our rights to redeem the Senior Notes of such series, we will be required to make an offer to repurchase all or, at the holder’s option, any part, of each holder’s Senior Notes of that series pursuant to the offer described below (the “Change of Control Offer”). In the Change of Control Offer, we will be required to offer payment in cash equal to 101% of the aggregate principal amount of Senior Notes repurchased plus accrued and unpaid interest, if any, on the Senior Notes repurchased, up to, but not including, the date of repurchase.

Based on the trading prices of the Senior Notes on the applicable dates, the fair value of the Senior Notes as of December 31, 2018 和 2018年6月30日大约是 $2.30 billion 和 $2.33 billion ，分别。虽然高级票据按成本记录，但长期债务的公允价值取决于不活跃的市场的报价;因此，为了公允价值计量层次结构，长期债务分类为级别2。

作为 December 31, 2018 , we were in compliance with all of our covenants under the Indenture associated with the Senior Notes.

循环信贷设施：

In November 2017, we entered into a Credit Agreement (the “Credit Agreement”) providing for a 750.0万美元 five - 年不安全的循环信贷设施（“循环信贷设施”）取代了我们的先前信贷设施。根据信用协议的条款，循环信贷设施可能会增加 250.0美元 million in the aggregate. In November 2018, we entered into an Incremental Facility, Extension and Amendment Agreement (the “Amendment”), which amends the Credit Agreement to (a) extend the Maturity Date (the “Maturity Date”) from 11月30日，2022年 to 11月30日，2023年 , (b) increase the total commitment by 250.0美元million 和(c) effect certain other amendments to the Credit Agreement as set forth in the Amendment. After giving effect to the Amendment, the total commitments under the Credit Agreement are $1.00 billion .

We may borrow, repay and reborrow funds under the Revolving Credit Facility until the Maturity Date, at which time such Revolving Credit Facility will terminate, and all outstanding loans under such facility, together with all accrued and unpaid interest, must be repaid. We may prepay outstanding borrowings under the Revolving Credit Facility at any time without a prepayment penalty.

Borrowings under the Revolving Credit Facility will bear interest, at our option, at either: (i) the Alternative Base Rate (“ABR”) plus a spread, which ranges from 0 BPS. to 75 bps. , or (ii) the London Interbank Offered Rate (“LIBOR”) plus a spread, which ranges from 100 bps to 175 bps . The spreads under ABR and LIBOR are subject to adjustment in conjunction with credit rating downgrades or upgrades. We are also obligated to pay an annual commitment fee on the daily undrawn balance of the Revolving Credit Facility, which ranges from 10 bps to 25 bps ，根据我们的信用评级的变化调整。作为 December 31, 2018 ，我们支付年度承诺费用 12.5 bps on the daily undrawn balance of the Revolving Credit Facility.

The Revolving Credit Facility requires us to maintain an interest expense coverage ratio as described in the Credit Agreement, on a quarterly basis, covering the trailing 四 consecutive fiscal quarters of no less than 3.50 to 1.00. In addition, we are required to maintain the maximum leverage ratio as described in the Credit Agreement, on a quarterly basis of 3.00 1.00，覆盖尾随四 consecutive fiscal quarters for each fiscal quarter, which can be increased to 4.00 to 1.00 for a period of time in connection with a material acquisition or a series of material acquisitions.

We were in compliance with all covenants under the Credit Agreement as of December 31, 2018 和had no 未结块循环信贷额度下的出色借款。