---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-280194"
form_type: "8-K"
ticker: "STX"
cik: "0001137789"
company_name: "Seagate Technology Holdings plc"
filed_at: "2022-11-08T23:59:59+00:00"
generated_at: "2026-06-22T02:53:51.707048+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Seagate amends credit agreement; raises max leverage ratio to 5.0:1.0

## Summary
- Seventh amendment relaxes max total leverage ratio to 5.0:1.0 for fiscal quarter ending Dec 30, 2022, with step downs.
- Covenant relief period runs through June 28, 2024; thereafter max ratio returns to 4.0:1.0.
- Company prohibited from using incremental facility up to $100M during covenant relief period.
- All other material terms of the Credit Agreement, dated Feb 20, 2019, remain unchanged.

## SEC filing metadata
- accession: 0001193125-22-280194
- form_type: 8-K
- ticker: STX
- cik: 0001137789
- company_name: Seagate Technology Holdings plc
- filed_at: 2022-11-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1137789/000119312522280194/0001193125-22-280194-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1137789/000119312522280194/d375807d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-280194
- JSON: https://secwatch.observer/filing/0001193125-22-280194.json
- Plain text: https://secwatch.observer/filing/0001193125-22-280194.txt

## Key facts
- Debt Financings
  Seagate Technology Holdings plc amended credit facility with The Bank of Nova Scotia.
  - Instrument: credit facility
  - Counterparty: The Bank of Nova Scotia
  - Event: amendment
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1137789/000119312522280194/0001193125-22-280194-index.htm
- Material Agreements
  Seagate Technology Holdings plc amended Amendment with The Bank of Nova Scotia, as administrative agent (effective 2022-11-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: The Bank of Nova Scotia, as administrative agent
  - Effective: 2022-11-08
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1137789/000119312522280194/0001193125-22-280194-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.