---
schema_version: "secwatch.filing_event.v1"
accession: "0001051512-25-000077"
form_type: "8-K"
ticker: "TDS"
cik: "0001051512"
company_name: "TELEPHONE & DATA SYSTEMS INC /DE/"
filed_at: "2025-12-12T23:59:59+00:00"
generated_at: "2026-05-16T13:19:41.576326+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001051512-25-000077
- form_type: 8-K
- ticker: TDS
- cik: 0001051512
- company_name: TELEPHONE & DATA SYSTEMS INC /DE/
- filed_at: 2025-12-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051512/000105151225000077/0001051512-25-000077-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051512/000105151225000077/tds-20251208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001051512-25-000077
- JSON: https://secwatch.observer/filing/0001051512-25-000077.json
- Plain text: https://secwatch.observer/filing/0001051512-25-000077.txt

## Key facts
- Material Agreements
  TELEPHONE & DATA SYSTEMS INC /DE/ amended Fourth Amendment with Wells Fargo Bank, National Association, as administrative agent, and the other lenders thereto valued at an aggregate amount of $300 million (effective 2025-12-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, and the other lenders thereto
  - Value: an aggregate amount of $300 million
  - Effective: 2025-12-08
  source text: On December 8, 2025 (the “Effective Date”), Telephone and Data Systems, Inc. (“TDS”), entered into the Fourth Amendment (the “Amendment”) to First Amended and Restated Credit Agreement among TDS, Wells Fargo Bank, National Association, as administrative agent, and the other lenders thereto (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051512/000105151225000077/0001051512-25-000077-index.htm

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