---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-069649"
form_type: "8-K"
ticker: "LDOS"
cik: "0001336920"
company_name: "Leidos Holdings, Inc."
filed_at: "2023-03-14T23:59:59+00:00"
generated_at: "2026-06-18T02:59:21.040961+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Leidos Holdings enters new $2.0B credit facility on March 10, 2023, refinances existing debt

## Summary
- New $1.0B term loan and $1.0B revolving credit facility, both maturing five years from March 10, 2023.
- Proceeds used to repay all indebtedness under prior credit agreement dated January 17, 2020.
- Interest rates: Term SOFR + margin based on credit rating; currently 1.250% for SOFR loans, commitment fee 0.125%.
- Financial covenants: max adjusted total debt/EBITDA of 3.75:1 (increased to 4.50:1 after material acquisition), min EBITDA/interest 3.50:1.
- No borrowings under revolving facility at closing; $2.0B total capacity.

## SEC filing metadata
- accession: 0001193125-23-069649
- form_type: 8-K
- ticker: LDOS
- cik: 0001336920
- company_name: Leidos Holdings, Inc.
- filed_at: 2023-03-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1336920/000119312523069649/0001193125-23-069649-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1336920/000119312523069649/d481040d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-069649
- JSON: https://secwatch.observer/filing/0001193125-23-069649.json
- Plain text: https://secwatch.observer/filing/0001193125-23-069649.txt

## Key facts
- Material Agreements
  Leidos Holdings, Inc. entered into Credit Agreement with Citibank, N.A., as administrative agent valued at $1,000,000,000 (effective 2023-03-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent
  - Value: $1,000,000,000
  - Effective: 2023-03-10
  source text: The Credit Agreement provides for (i) a senior unsecured term loan facility in an aggregate principal amount of $1,000,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1336920/000119312523069649/0001193125-23-069649-index.htm
- Material Agreements
  Leidos Holdings, Inc. terminated Terminated Credit Agreement with Citibank, N.A., as administrative agent (effective 2023-03-10).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent
  - Effective: 2023-03-10
  source text: On the Closing Date, the Borrower repaid in full all indebtedness, and terminated all commitments, under, and discharged and released all guarantees in connection with the Terminated Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1336920/000119312523069649/0001193125-23-069649-index.htm

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