Snap enters into $1.05B revolving credit facility, replacing prior facility

Snap Inc

New $1.05B credit facility matures May 6, 2027; replaces prior $1.05B facility terminated concurrently.
Revolving loans bear interest at SOFR plus 0.75% (USD) or comparable rates for foreign currencies.
Commitment fee of 0.10% per annum on unused amounts; financial covenant requires at least $300M liquidity.
No revolving loans outstanding as of closing; Snap may request two one-year maturity extensions.
Loans available in USD, EUR, GBP, AUD, JPY, CAD; foreign currency cap of $200M.

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