Business Context and Reporting Period
Company: Diodes Incorporated
Filing Type: Form 8-K (Current Report)
Date of Report: October 9, 2008
Event: Entry into a Material Definitive Agreement regarding a credit facility amendment.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, or operating margins. It specifically addresses a debt instrument:
- Loan Amount: $165 million (U.S. Dollars)
- Lender: UBS Financial Services Inc.
- Interest Rate Adjustment: Reduced to prevailing daily 30-day LIBOR plus 0.00%.
- Effective Date: Retroactively effective to August 22, 2008.
Material Changes Versus Prior Period
The Company entered into a Second Amendment to its Addendum to Client's Agreement, replacing a First Amendment dated June 9, 2008. The primary material change is the reduction of the floating interest rate on the $165 million loan to LIBOR plus 0.00%, effective retroactively from August 22, 2008.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. It does not disclose new risks or contingencies beyond the terms of the amended credit agreement. The summary of the agreement is qualified by the full text of the Second Amendment attached as Exhibit 99.1.
Important Facts for Investor Verification
- Verify the exact terms of the interest rate calculation (LIBOR plus 0.00%) in Exhibit 99.1.
- Confirm the retroactive application of the rate change to August 22, 2008.
- Review the full text of the Second Amendment for any covenants or conditions not summarized in the 8-K.
- Note that this filing does not provide updated financial statements or liquidity metrics beyond the specific loan terms.