Flex Ltd. enters new $2.75B revolving credit facility, replacing $2.5B facility due 2027

FLEX LTD.

New $2.75B unsecured revolving credit facility matures July 15, 2030, replacing existing $2.5B facility due July 19, 2027.
Facility includes sublimits of $400M for swing line loans and $200M for letters of credit, with ability to increase by up to $500M.
Interest rates based on Term SOFR plus margins ranging from 1.00% to 1.750% (depending on credit ratings), commitment fee 0.100%-0.275% on undrawn amounts.
Facility contains customary financial covenants (max leverage, min interest coverage) and is not guaranteed by subsidiaries.
Some lenders under new facility have provided or may provide other banking services, and an affiliate of one lender is trustee under various notes.

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