Corsair Gaming entered into a $225.0 million credit agreement on Jun 30, 2025 that amended and restated its 2021 facilities

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Corsair Gaming, a hardware company listed on Nasdaq as CRSR, and certain of its US subsidiaries entered into an Amended and Restated Credit Agreement on Jun 30, 2025, with Bank of America, N.A. as administrative agent and the lenders party to the agreement. The agreement provided total commitments of $225.0 million: a $100.0 million five-year revolving credit facility, a line the company can borrow from, repay and borrow from again, and a $125.0 million five-year term loan facility, a loan of a fixed amount. Both were to mature on Jun 30, 2030, and the agreement permitted additional incremental facilities, subject to its conditions, of up to $125.0 million in aggregate principal amount. Corsair reported it in an 8-K, the current report a US-listed company files when something significant happens, under the item for entry into a material definitive agreement.1^,2^,3^,4^,5^,6^,7

The new facilities amended and restated Corsair's senior credit facilities under a credit agreement dated Sep 3, 2021, which also named Bank of America, N.A. as administrative agent. The term loan and the revolving loan were each to bear interest, at Corsair's election, at term SOFR (a benchmark interest rate) plus a spread of 1.50% to 2.50%, based on the company's total net leverage ratio. The other option was the base rate, the greatest of Bank of America's prime rate, the federal funds rate plus 0.50% and one-month term SOFR plus 1.0%, plus a spread of 0.50% to 1.50%. Substantially all of Corsair's US subsidiaries guaranteed its obligations under the agreement, which were secured by a security interest in substantially all assets of the company and the guarantors, subject to certain exceptions.8^,9^,10^,11

The agreement carried limits on additional debt, liens, asset sales, investments and acquisitions, dividends and share repurchases, and mergers, and required Corsair to maintain a maximum total net leverage ratio and a minimum interest coverage ratio. The 8-K said that if an event of default occurred and continued, the lenders could terminate or suspend their obligations to make loans and issue letters of credit, or accelerate amounts due. For certain events of default, the 8-K said, the interest on the loans could be increased by 2.0%.12^,13^,14

The full agreement was filed as Exhibit 10.1 to the 8-K and is not read here; this account rests on the 8-K's own summary of it.15