AAOI enters new $30 million revolver and $170 million term loan facility
On October 30, 2026, Applied Optoelectronics entered into a secured credit facility providing $30 million of revolving commitments and $170 million of initial term loan commitments, with a scheduled maturity of October 30, 2030. The facility permits up to $50 million of conditional incremental term loan commitments and replaces the prior facility, which was terminated on October 29, 2026, with a $350,000 termination fee paid. East West Bank serves as administrative agent, and the obligations are secured by subst...
Key takeaways
Facility structure: The company received $30 million of revolving commitments and $170 million of initial term loan commitments.
Maturity: The facility has a scheduled maturity of October 30, 2030; the agreement also defines an earlier maturity trigger six months before the convertible debt maturity date.
Incremental capacity: The company may request up to $50 million of additional term loan commitments subject to certain conditions.
Use of proceeds: Term loan proceeds may purchase or refinance eligible equipment, while revolving borrowings may fund working capital and general corporate purposes.
Pricing: At the company's option, ABR borrowings carry an applicable rate of 1.25%-1.75%, while SOFR borrowings carry Term SOFR plus 0.10% plus an applicable rate of 2.50%-3.25%, based on the consolidated senior leverage ratio.
Security: The obligations are secured by substantially all company assets, including certain subsidiary equity, subject to customary exclusions.
Facility replacement: The prior facility was terminated on October 29, 2026, and the company paid a $350,000 termination fee; it had $35 million of unused revolving commitments at termination.
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Primary source
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