StockDriftsSandisk Corp · SNDK · 8-K · Filed
Amends Credit Agreement, Establishes $1.5 Billion Revolving Credit Facility
SNDK
8-K
Financing
Source: SEC EDGAR, accession 0001193125-26-389293 · Items 1.01, 9.01
What did Sandisk Corp announce?
Sandisk Corporation amended its Loan Agreement, establishing a new $1.5 billion revolving credit facility maturing on September 9, 2031.
Key details
- The new revolving credit facility has an aggregate principal amount of $1,500.0 million.
- The facility matures on September 9, 2031, with no amortization.
- Interest rates for U.S. dollar borrowings will be based on Adjusted Term SOFR Rate or a base rate, plus an interest rate margin of 1.375% or 0.375% per annum, respectively.
- The agreement includes a financial covenant prohibiting the company from exceeding a maximum Leverage Ratio.
Why it matters
This 8-K reports a financing at Sandisk Corp. The likely share-price reaction reads as neutral.
Neutral