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Ichor Holdings (NASDAQ: ICHR) extends credit facility maturity to 2030

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(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Ichor Holdings, Ltd. reported that its affiliate Icicle Acquisition Holding B.V. and related subsidiaries entered into an Amended and Restated Credit Agreement on September 26, 2025 with Bank of America and other lenders. The agreement replaces the prior 2021 facility and now governs a $125.0 million term loan and a $100 million revolving credit facility.

The revised terms increase the borrowers’ overall borrowing rate by raising the applicable rate, while reducing the revolving commitment fee and eliminating the Secured Overnight Financing Rate adjustment. The maturity date is extended to September 26, 2030, and the maximum permitted leverage ratio is tightened to 3.25x from 3.5x.

Quarterly term loan payments of approximately $1.6 million begin on December 31, 2025, rising to about $2.3 million from September 30, 2028 and $3.1 million from September 30, 2029. The full legal agreement is attached as an exhibit for detailed terms and covenants.

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Insights

Refinancing extends debt maturity to 2030 with slightly tighter leverage terms.

Ichor Holdings has refinanced its main credit facilities through an amended and restated agreement covering a $125.0 million term loan and a $100 million revolving line. This replaces the 2021 structure and pushes final maturity out to September 26, 2030, giving the group longer-term funding visibility.

The filing states that the overall borrowing rate rises via a higher applicable margin, partially offset by a lower revolving commitment fee and removal of the Secured Overnight Financing Rate adjustment. The maximum permitted leverage ratio is reduced to 3.25% of the defined metric from 3.5%, indicating somewhat tighter balance-sheet constraints.

Quarterly principal payments on the term loan step up over time, from about $1.6 million starting December 31, 2025 to $2.3 million in September 2028 and $3.1 million in September 2029. Future disclosures in company reports can show how these scheduled amortizations and leverage limits interact with cash generation.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Understanding 8-K Material Events →
0001652535FALSE3185 Laurelview Ct.FremontCalifornia00016525352025-09-262025-09-26

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________________________________________________________________________________________________________________________________________
FORM 8-K
___________________________________________________________________________________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 26, 2025
___________________________________________________________________________________________________________________________________________________
ICHOR HOLDINGS, LTD.
(Exact name of registrant as specified in its charter)
___________________________________________________________________________________________________________________________________________________
Cayman Islands001-37961Not Applicable
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
3185 Laurelview Ct.
Fremont, California
94538
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (510) 897-5200
Not Applicable
(Former name or former address, if changed since last report)
___________________________________________________________________________________________________________________________________________________
Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Ordinary Shares, par value $0.0001ICHRThe NASDAQ Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b‑2 of the Securities Exchange Act of 1934 (§ 240.12b‑2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 1.01 Entry into a Material Definitive Agreement
Credit Agreement
On September 26, 2025, Icicle Acquisition Holding B.V., as holdings, entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with, Ichor Systems, Inc., Ichor Holdings, LLC, IMG Companies, LLC, IMG INTA, LLC, IMG Larkin, LLC, IMG, LLC, Applied Fusion, LLC, IMG Altair, LLC (together with the previously listed entities, as “Borrowers”), the other loan parties party thereto, Bank of America, N.A., as administrative agent, swing line lender, and L/C issuer, and the financial institutions party thereto, as lenders, which replaced in its entirety the existing credit agreement dated as of October 29, 2021. The Credit Agreement governs the credit facilities, which include a $125.0 million term loan and a revolving credit facility allowing for borrowings up to $100 million. The Credit Agreement raises the Borrowers’ overall borrowing rate by increasing the applicable rate, offset by decreasing the revolving facility commitment fee and removing the Secured Overnight Financing Rate Adjustment. Additionally, the maturity date is extended to September 26, 2030, and the maximum permitted leverage ratio is decreased to 3.25x from 3.5x. Quarterly term loan payments of approximately $1.6 million commence on December 31, 2025 and the amount of such quarterly term loan payments will increase to approximately $2.3 million commencing on September 30, 2028, and approximately $3.1 million commencing on September 30, 2029, respectively.

The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Credit Agreement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
Exhibit
Number		Description
10.1
Amended and Restated Credit Agreement, dated as of September 26, 2025, by and among Icicle Acquisition Holding B.V, Ichor Systems, Inc., Ichor Holdings, LLC, IMG Companies, LLC, IMG Inta, LLC, IMG Larkin, LLC, IMG, LLC, Applied Fusion, LLC, and IMG Altair, LLC as borrowers, Bank of America, N.A., as administrative agent, and the financial institutions party thereto, as lenders.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ICHOR HOLDINGS, LTD.
Date: September 30, 2025/s/ Greg Swyt
Greg Swyt
Chief Financial Officer

Source: View Original Filing on SEC EDGAR

FAQ

What did Ichor Holdings (ICHR) announce in this 8-K?

Ichor Holdings disclosed that its affiliate Icicle Acquisition Holding B.V. and related subsidiaries entered into an Amended and Restated Credit Agreement with Bank of America and other lenders, replacing the prior 2021 credit agreement.

What are the sizes of the new credit facilities for Ichor Holdings (ICHR)?

The amended credit facilities include a $125.0 million term loan and a $100 million revolving credit facility, which together govern the company’s principal bank borrowings.

How did the amended credit agreement change Ichor Holdings’ borrowing costs?

The agreement raises the overall borrowing rate by increasing the applicable rate, while reducing the revolving facility commitment fee and removing the Secured Overnight Financing Rate adjustment described in the prior structure.

When does Ichor Holdings’ amended credit facility now mature?

The maturity date for the credit facilities was extended to September 26, 2030, providing a longer dated capital structure compared with the prior agreement.

What is the new maximum permitted leverage ratio under Ichor Holdings’ credit agreement?

The maximum permitted leverage ratio was decreased to 3.25x from 3.5x, which tightens the leverage covenant compared with the 2021 credit agreement.

What are the scheduled quarterly term loan payments for Ichor Holdings (ICHR)?

Quarterly payments on the term loan are approximately $1.6 million starting on December 31, 2025, increasing to about $2.3 million from September 30, 2028 and about $3.1 million from September 30, 2029.

Where can investors find the full terms of Ichor Holdings’ amended credit agreement?

The complete Amended and Restated Credit Agreement is filed as Exhibit 10.1 to this report and is incorporated by reference for full legal and financial details.