TDS extends credit facility maturity, increases debt capacity by $300M

TELEPHONE & DATA SYSTEMS INC /DE/

• Fourth Amendment to credit agreement extends maturity to 5th anniversary of Dec 8, 2025.
• Removes 10-25 bps credit spread adjustment on Term SOFR interest rate.
• Maximum permitted cash netting for leverage ratio capped at consolidated EBITDA of prior four quarters.
• Secured debt capacity for TDS and subsidiaries (including Array) increased by $300 million aggregate.
• Array subsidiary concurrently entered Fifth Amendment to its own credit agreement; terms incorporated by reference.