Seagate Technology Holdings plc (STX): debt financing — Seagate amends credit agreement; raises max leverage ratio to 5.0:1.0

The Amendment amended the Credit Agreement to, among other things, increase the maximum permitted total leverage ratio the Company must comply with during the covenant relief period and prohibit the Company from pursuing the use of the incremental facility (being the ability of the Borrower to establish incremental loan commitments or incremental term loan commitments of up to $100.0 million in the aggregate, as set out in the sixth amendment to the Credit Agreement) during the covenant relief period.

On November 8, 2022, Seagate Technology Holdings public limited company (the “Company”) and its subsidiary Seagate HDD Cayman (the “Borrower”) entered into the seventh amendment (the “Amendment”) to the Credit Agreement, dated as of February 20, 2019, by and among the Company, the Borrower, the lenders party thereto, and The Bank of Nova Scotia, as administrative agent (as amended from time to time, the “Credit Agreement”).