secwatch.observer — SEC 8-K summary
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Issuer:     NetApp, Inc. (NTAP)
CIK:        0001002047
Form:       8-K
Filed at:   2025-03-05T23:59:59+00:00
Accession:  0001193125-25-047187
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NetApp enters $1.0B unsecured revolving credit facility maturing 2030
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- Revolver size of $1.0B with $50M letter of credit sublimit; maturity March 5, 2030, with two 1-year extension options.
- Expansion option allows increase up to an additional $500M, for total potential commitments of $1.5B.
- Interest at base rate or adjusted term SOFR plus spread based on credit ratings (0–0.325% base, 0.805–1.325% SOFR).
- Covenant includes maximum leverage ratio tested quarterly; proceeds for general corporate purposes and commercial paper support.
- No borrowings or letters of credit outstanding at closing on March 5, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1002047/000119312525047187/0001193125-25-047187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1002047/000119312525047187/d830679d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-047187

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer