---
schema_version: "secwatch.filing_event.v1"
accession: "0001051512-22-000065"
form_type: "8-K"
ticker: "TDS"
cik: "0001051512"
company_name: "TELEPHONE & DATA SYSTEMS INC /DE/"
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T19:17:35.075989+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# TDS enters $150M unsecured term loan facility with Export Development Canada to finance Nokia purchases

## Summary
- $150 million term loan facility to finance/refinance purchases of goods and services from Nokia OYJ.
- Borrowings bear interest at SOFR or alternative base rate plus applicable margin, at TDS' option.
- Financial covenants: consolidated interest coverage ratio >= 3.00x; consolidated leverage ratio <= 3.75x.
- Loan is unsecured; certain subsidiaries are guarantors; change in control triggers default and repayment.
- Borrowings must be made by April 9, 2023; maturity is five years from first borrowing.

## SEC filing metadata
- accession: 0001051512-22-000065
- form_type: 8-K
- ticker: TDS
- cik: 0001051512
- company_name: TELEPHONE & DATA SYSTEMS INC /DE/
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051512/000105151222000065/0001051512-22-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051512/000105151222000065/tds-20221109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001051512-22-000065
- JSON: https://secwatch.observer/filing/0001051512-22-000065.json
- Plain text: https://secwatch.observer/filing/0001051512-22-000065.txt

## Key facts
- Debt Financings
  TELEPHONE & DATA SYSTEMS INC /DE/ incurred term loan of $150 million with Export Development Canada at secured overnight financing rate (SOFR) or at an alternative base rate, plus, in maturing five year anniversary of the first borrowing.
  - Instrument: term loan
  - Principal: $150 million
  - Counterparty: Export Development Canada
  - Rate: secured overnight financing rate (SOFR) or at an alternative base rate, plus, in
  - Maturity: five year anniversary of the first borrowing
  - Event: incurrence
  source text: On November 9, 2022 (Effective Date), Telephone and Data Systems, Inc. (TDS) entered into a $150 million Credit Agreement (Credit Agreement) by and between TDS as Borrower and Export Development Canada as Lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051512/000105151222000065/0001051512-22-000065-index.htm
- Material Agreements
  TELEPHONE & DATA SYSTEMS INC /DE/ entered into Credit Agreement with Export Development Canada valued at $150 million (effective 2022-11-09).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Export Development Canada
  - Value: $150 million
  - Effective: 2022-11-09
  source text: On November 9, 2022 (Effective Date), Telephone and Data Systems, Inc. (TDS) entered into a $150 million Credit Agreement (Credit Agreement) by and between TDS as Borrower and Export Development Canada as Lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051512/000105151222000065/0001051512-22-000065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.