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.

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