Kyndryl enters $3.65B in credit facilities (revolver and term loan) post-IBM separation

Kyndryl Holdings, Inc.

$3.15B five-year revolving credit facility and $500M three-year term loan entered on Oct 18, 2021.
Proceeds for general corporate purposes; term loan available up to three business days before separation from IBM.
Interest rates based on prevailing market rates plus margin; customary covenants and events of default.
IBM will guarantee term loan until separation date, then automatically released.

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