Marvell enters $3 billion revolving credit facility, doubling prior $1.5 billion facility
Marvell Technology, Inc. entered into a Third Amended and Restated Revolving Credit Agreement on October 22, 2026, providing for borrowings of up to $3 billion in revolving loans, subject to a leverage ratio covenant not exceeding 4.00 to 1.00 (or 4.50 to 1.00 for certain acquisitions). The facility amends and restates the prior $1.5 billion revolving credit facility maturing June 2030, with commitments terminating on the fifth anniversary of the effective date.
Key takeaways
Marvell increased its revolving credit facility from $1.5 billion to $3 billion
Facility size may be further increased by up to $2 billion with lender consent
Administrative Agent is Bank of America, N.A.
Joint Lead Arrangers include BofA Securities, JPMorgan, Citibank, Goldman Sachs, HSBC, Mizuho, MUFG, SMBC, and Wells Fargo
Interest rates based on SOFR or Alternate Base Rate with spreads ranging from 0% to 1.5% based on debt ratings
Leverage ratio covenant set at 4.00 to 1.00, stepping up to 4.50 to 1.00 for acquisitions of $500 million or more
No Revolving Loans were outstanding as of the effective date
Primary source
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