Ultra Clean Holdings refinances $250 million credit facility

Ultra Clean Holdings Inc. (NASDAQ: UCTT) entered into a tenth amendment to its credit agreement on April 23, 2026, refinancing revolving credit commitments totaling $250 million and extending the facility's maturity to April 23, 2031.

The amended credit agreement with Barclays Bank PLC as administrative agent provides a senior secured credit facility available in U.S. dollars and other currencies. The facility includes provisions for up to $50 million in letters of credit.

Under the agreement, the company may request increases to the aggregate revolving credit commitments or incur incremental term loans up to a specified incremental availability amount. Interest rates on revolving loans will be based on either Term SOFR or ABR, plus applicable margins determined by the company's consolidated secured net leverage ratio.

The credit agreement requires Ultra Clean Holdings to maintain specific financial covenants. The company must keep its maximum consolidated secured net leverage ratio at or below 3.25 to 1.00, or 3.75 to 1.00 for periods involving material acquisitions. Additionally, the company must maintain a minimum cash interest coverage ratio of at least 3.00 to 1.00, measured quarterly.

The original credit agreement was established on August 27, 2018. The latest amendment represents the tenth modification to the facility terms.

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