---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-074355"
form_type: "8-K"
ticker: "KD"
cik: "0001867072"
company_name: "Kyndryl Holdings, Inc."
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T18:28:21.940832+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Kyndryl amends credit agreements to replace LIBOR with SOFR as benchmark

## Summary
- Amended $3.15B revolving credit and term loan agreements to replace LIBOR with Term SOFR plus 0.10% spread.
- Amendment effective June 21, 2023; existing LIBOR loans continue until current interest period ends.
- No other material terms of the credit agreements changed.
- JPMorgan Chase remains administrative agent; major lenders include Santander, MUFG, TD, Deutsche Bank.
- Borrower reaffirmed all obligations; no defaults occurred.

## SEC filing metadata
- accession: 0001104659-23-074355
- form_type: 8-K
- ticker: KD
- cik: 0001867072
- company_name: Kyndryl Holdings, Inc.
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1867072/000110465923074355/0001104659-23-074355-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1867072/000110465923074355/tm2319411d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-074355
- JSON: https://secwatch.observer/filing/0001104659-23-074355.json
- Plain text: https://secwatch.observer/filing/0001104659-23-074355.txt

## Key facts
- Material Agreements
  Kyndryl Holdings, Inc. amended Five-Year Revolving Credit Agreement Amendment No. 1 with JPMorgan Chase Bank, N.A. valued at Replaced LIBOR with SOFR as the interest rate benchmark for US Dollar borrowings; other terms unchan (effective 2023-06-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: Replaced LIBOR with SOFR as the interest rate benchmark for US Dollar borrowings; other terms unchan
  - Effective: 2023-06-21
  source text: On June 21, 2023, Kyndryl Holdings, Inc. (the “Company”) (i) entered into Amendment No. 1 (the “Revolver Amendment”) to the Five-Year Revolving Credit Agreement dated as of October 18, 2021 (the “Revolving Credit Agreement”) with the several banks and other financial institutions from time to time party thereto (the “Revolving Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent and (ii) entered into Amendment No. 1 (the “Term Amendment” and, together with the Revolver Amendment, the “Amendments”) to the Term Loan Credit Agreement dated as of October 18, 2021 (the “Term Loan Credit Agreement” and, together with the Revolving Credit Agreement, the “Credit Agreements”) with the several banks and other financial institutions from time to time party thereto (the “Term Loan Lenders” and, together with the Revolving Lenders, the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867072/000110465923074355/0001104659-23-074355-index.htm
- Material Agreements
  Kyndryl Holdings, Inc. amended Term Loan Credit Agreement Amendment No. 1 with JPMorgan Chase Bank, N.A. valued at Replaced LIBOR with SOFR as the interest rate benchmark for US Dollar borrowings; other terms unchan (effective 2023-06-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: Replaced LIBOR with SOFR as the interest rate benchmark for US Dollar borrowings; other terms unchan
  - Effective: 2023-06-21
  source text: On June 21, 2023, Kyndryl Holdings, Inc. (the “Company”) (i) entered into Amendment No. 1 (the “Revolver Amendment”) to the Five-Year Revolving Credit Agreement dated as of October 18, 2021 (the “Revolving Credit Agreement”) with the several banks and other financial institutions from time to time party thereto (the “Revolving Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent and (ii) entered into Amendment No. 1 (the “Term Amendment” and, together with the Revolver Amendment, the “Amendments”) to the Term Loan Credit Agreement dated as of October 18, 2021 (the “Term Loan Credit Agreement” and, together with the Revolving Credit Agreement, the “Credit Agreements”) with the several banks and other financial institutions from time to time party thereto (the “Term Loan Lenders” and, together with the Revolving Lenders, the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867072/000110465923074355/0001104659-23-074355-index.htm

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