Seagate Technology Holdings plc (STX): debt financing — Seagate enters $1.3B revolving credit facility, replaces 2019 agreement

Seagate Technology Holdings plc

New $1.3B senior unsecured revolving credit facility maturing Jan 30, 2030; replaces 2019 facility.
Facility includes up to $150M letters of credit and $50M swingline loans; interest based on SOFR plus margin tied to credit ratings.
Financial covenant requires total net leverage ratio ≤ 6.75:1, effective Q2 FY2025, with springing test.
No borrowings outstanding at closing; facility for working capital and general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Seagate Technology Holdings plc incurred revolving credit of $1.3 billion with The Bank of Nova Scotia (Administrative Agent) at SOFR plus a variable margin maturing January 30, 2030.

Instrument: revolving credit
Principal: $1.3 billion
Counterparty: The Bank of Nova Scotia (Administrative Agent)
Rate: SOFR plus a variable margin
Maturity: January 30, 2030
Event: incurrence

Exact text from the filing

The New Credit Agreement provides for a $1.3 billion senior unsecured revolving credit facility, under which the Borrower may borrow at any time until the earlier of (i) January 30, 2030

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Source: SEC EDGAR

accession 0001137789-25-000023

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