NEOPHOTONICS CORPORATION (NYSE:NPTN) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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NEOPHOTONICS CORPORATION (NYSE:NPTN) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On December14, 2017, NeoPhotonics (China) Co.,Ltd. (the “Subsidiary”), an indirect wholly-owned Chinese subsidiary of NeoPhotonics Corporation (the “Company”), entered into a Comprehensive Credit Granting Contract (the “Credit Agreement”) with China CITIC Bank (“CITIC Bank”) that provides for a credit line in the aggregate principal amount of RMB 250 million (approximately $37.8 million) (the “Credit Line”). The purpose of the Credit Line is to provide short-term borrowings, bank acceptance drafts and letters of credit for the Subsidiary’s operations in China.

The Credit Line is available from December14, 2017 to November17, 2018. Interest on borrowings under the Credit Agreement will be based on market interest rates at the time of borrowing, varying with the type of loan. The overall Credit Line is unsecured.

The Credit Agreement contains customary representations, warranties and covenants applicable to the Subsidiary, as well as customary events of default. Upon an event of default, CITIC Bank may, among other things, accelerate the loans extended under the Credit Line.

In addition to the new Credit Agreement with CITIC Bank, the Subsidiary drew down $17.0 million under one of its existing line of credits with Pudong Bank and anticipates repaying a separate loan of $17.0 million with CITIC Bank under a previously expired credit facility, which is due on January2, 2018. The Company expects that funds for this repayment will be made through inter-company trade related settlements between the Company and the Subsidiary.

The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Credit Agreement, which is attached as Exhibit10.1 hereto and incorporated herein by reference in its entirety.

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information set forth above and referenced under Item 1.01 is hereby incorporated by reference into this Item 2.03.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d)Exhibits.


NEOPHOTONICS CORP Exhibit
EX-10.1 2 a17-28585_1ex10d1.htm EX-10.1 Exhibit 10.1     Contract No.: 2017 SY H ZZ No. 0019   Comprehensive Credit Granting Contract (Version 1.0,…
To view the full exhibit click here

About NEOPHOTONICS CORPORATION (NYSE:NPTN)

NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks. Its products are categorized into groups, including High Speed Products and Network Products and Solutions. High Speed Products include products designed for 100G and beyond for telecom and datacenter or content provider networks and applications. Its Network Products and Solutions consist of various products designed for applications below 100G, and include 40G products. It combines its transmitter and receiver products into Transceiver modules.