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

Quarterly report pursuant to Section 13 or 15(d)

DEBT

DEBT

3 Months Ended

Sep. 30, 2021

下表总结了我们截至2021年9月30日和2021年6月30日的债务：


	As of September 30, 2021				As of June 30, 2021
	Amount (In thousands)		Effective Interest Rate		Amount (In thousands)		Effective Interest Rate
固定利率4.650％高级票据于2024年11月1日到期	$	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	%
Fixed-rate 4.100% Senior Notes due on March 15, 2029	800,000		4.159	%	800,000		4.159	%
固定利率5.000％高级票据于2049年3月15日到期	400,000		5.047	%	400,000		5.047	%
Fixed-rate 3.300% Senior Notes due on March 1, 2050	750,000		3.302	%	750,000		3.302	%

Fixed-rate 3.590% Note Payable due on February 20, 2022	20,000		2.300	%	20,000		2.300	%
Total	3,470,000				3,470,000
Unamortized discount/premium, net	(7023)				(7168)
Unamortized debt issuance costs	(19,541)				(20,065)
Total	$	3,443,436			$	3,442,767
报告为：
Short-term debt	$	20,000			$	20,000
长期债务	3,423,436				3,422,767
Total	$	3,443,436			$	3,442,767

As of September 30, 2021, future minimum principal payments for our debt are as follows: $20.0 million in fiscal year 2022, $1.25 billion in fiscal year 2025 and $2.20 billion after fiscal year 2026.

高级票据和债务赎回：

2020年2月，我们发行了7.5亿美元的高级，无抵押长期票据（“ 2020年高级票据”）的总收入。在2019年3月和2014年11月，我们发行了100亿美元（“ 2019年高级票据”）和25亿美元（“ 2014年高级票据”，以及2019年高级票据和2020年高级票据，“高级票据”），分别是高级，无抵押长期票据的本金总额。在2018财年和2020财年的第二季度中，我们

repaid $250.0 million of the 2014 Senior Notes and in the third quarter of fiscal 2020 we repaid another $500.0 million of the 2014 Senior Notes using the proceeds from the issuance of the 2020 Senior Notes, bringing the outstanding aggregate principal amount of the 2014 Senior Notes to $1.50 billion as of September 30, 2021.

The interest rates for our Senior Notes are not subject to adjustment. Interest is payable as follows: semi-annually on March 1 and September 1 of each year for the 2020 Senior Notes; semi-annually on March 15 and September 15 of each year for the 2019 Senior Notes; and semi-annually on May 1 and November 1 of each year for the 2014 Senior Notes. The indenture for the Senior Notes (the “Indenture”) includes covenants that limit our ability to grant liens on our facilities and enter into sale and leaseback transactions, subject to certain allowances under which certain sale and leaseback transactions are not restricted.

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 September 30, 2021 and June 30, 2021 was $3.95 billion and $3.98 billion, respectively. While the Senior Notes are recorded at cost, the fair value of the long-term debt was determined based on quoted prices in markets that are not active; accordingly, the long-term debt is categorized as Level 2 for purposes of the fair value measurement hierarchy.

截至2021年9月30日，我们符合与高级票据相关的契约下的所有盟约。

旋转信贷额度：

我们已经建立了一项信贷协议（“信贷协议”），规定了100亿美元的无抵押循环信贷额度（“循环信贷额度”），其成熟日期为2023年11月30日。2022年6月30日，我们从循环信贷融资中借了3亿美元，该信贷额度在同一季度全额支付。截至2021年9月30日，我们在循环信贷额度下没有未偿还的借款。

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, subject to an adjustment in conjunction with changes to our credit rating. As of September 30, 2021, we elected to pay interest on the borrowed amount under the Revolving Credit Facility at LIBOR plus a spread of 100 bps, and we pay an annual commitment fee of 10 bps on the daily undrawn balance of the Revolving Credit Facility.

循环信贷额度要求我们按季度维持信贷协议中所述的利息费用覆盖率，涵盖连续四个连续的财政季度不少于3.50至1.00。此外，我们必须按照信用协议中所述的最大杠杆比率为3.00至1.00，涵盖每个财政季度的连续四个财政季度，可以将其增加到4.00至1.00与物料采集或一系列材料采集有关的时间。截至2021年9月30日，我们的最大允许杠杆比率为3.00至1.00。

截至2021年9月30日，我们符合根据信贷协议的所有盟约。

Notes Payable:

In December 2020 we sold promissory notes to a financial institution, borrowing an aggregate principal amount of $40.0 million ("Notes Payable"). Of the aggregate amount borrowed, $20.0 million matured and was paid on February 20, 2021 and the balance of $20.0 million matures on February 20, 2022. The premium of $0.3 million from the sale of the Notes Payable is being amortized over the life of the debt. The net proceeds from the sale of the Notes Payable were used for general corporate purposes.

For additional details, refer to Note 8 “Debt” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021.