Workday signs new $1.5B revolving credit facility, up from $1.0B, maturing Oct. 1, 2031

Workday, Inc.

New Credit Agreement dated Oct. 1, 2026 replaces the April 6, 2022 facility, raising the revolver to $1.5B from $1.0B; no revolving loans outstanding as of closing.
Facility matures Oct. 1, 2031; Workday may request up to two one-year extensions; alternative-currency loans (EUR, GBP, CAD) capped at $525M.
Leverage-based pricing: SOFR margin 0.875%-1.500%, base-rate margin 0.000%-0.500%, L/C fee 0.875%-1.500%, commitment fee 0.080%-0.200%.
Or, at Workday's one-time irrevocable election, pricing may instead be set by S&P/Moody's debt ratings: SOFR margin 0.750%-1.250%, commitment fee 0.070%-0.150%.
Financial covenant caps leverage at 3.50x, with a step-up to 4.50x for a period following a Qualified Acquisition.

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