Business
MACOM Pays Off Outstanding Term Loans
LOWELL, Mass.--(BUSINESS WIRE)-- MACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today
About this update from Macom Technology Solutions Holdings, Inc.
[{"type":"text","content":" LOWELL, Mass.--(BUSINESS WIRE)--\nMACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today announced that it has utilized approximately $121 million of its $588 million of available cash and short-term investments as of June 30, 2023 to pay off the remaining balance of its outstanding term loans. The term loans have a maturity date of May 2024.\n\n\n“In this current high interest rate environment, we believe it is prudent to retire this floating-rate debt obligation early and reduce our net interest costs by approximately $0.6 million per quarter,” said Jack Kober, Senior Vice President and Chief Financial Officer, MACOM.\n\n\nAbout MACOM\n\n\nMACOM designs and manufactures high-performance semiconductor products for the Telecommunications, Industrial and Defense and Datacenter industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts. To learn more visit www.macom.com.\n\n\nSpecial Note Regarding Forward-Looking Statements\n\n\nThis press release contains forward-looking statements based on MACOM management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include, among others, statements about MACOM’s debt obligations and any potential net interest cost or related savings. These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including, among other things, risks related to the ability of MACOM to realize the anticipated benefits of the prepayment of its term loans, MACOM’s ability to successfully supply, market and distribute its products and other business effects, including the effects of industry, market, economic, political or regulatory conditions, ...