secwatch.observer — SEC 8-K summary
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Issuer:     Kyndryl Holdings, Inc. (KD)
CIK:        0001867072
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0001104659-23-074355
Event type: debt
Sentiment:  neutral
Materiality: 0.15
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kyndryl amends credit agreements to replace LIBOR with SOFR as benchmark
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867072/000110465923074355/0001104659-23-074355-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867072/000110465923074355/tm2319411d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-074355

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