ADTRAN amends credit facility, adds $100M subline for German unit, relaxes cash covenant

ADTRAN Holdings, Inc.

Created a $100M subline under existing $400M revolver for German subsidiary Adtran Networks SE.
German borrower can draw up to $75M initially; prepayment below threshold triggers permanent commitment reduction.
Waived prior requirement for German entities to guarantee entire credit; now guarantee only the subline.
Reduced minimum unrestricted cash covenant from $75M to $70M during Springing Covenant or Covenant Relief Periods.
Total revolving commitments unchanged at $400M; US borrower retains $300M availability plus $50M term loan.

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