AT&T INC. (T): debt financing — AT&T enters $12B revolver and $17.5B term loan; funds may finance spectrum

AT&T INC.

New $12B revolver due Nov 2030, replaces 2022 facility; margin at 0.92% based on current BBB/Baa2/BBB+ ratings.
$17.5B delayed draw term loan includes $6B 364-day and $11.5B two-year tranches; draw available until Nov 2026.
Proceeds for general corporate purposes, including potential spectrum acquisitions.
Net debt-to-EBITDA covenant set at 3.75x; applies from Q1 2026.
Facility fees on revolver at 0.08% of commitments; commitment fee on term loan starts March 2026.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AT&T INC. incurred term loan of $17.5 billion with Bank of America, N.A., as agent.

Instrument: term loan
Principal: $17.5 billion
Counterparty: Bank of America, N.A., as agent
Event: incurrence

Exact text from the filing

(ii) a $17.5 billion Delayed Draw Term Loan Credit Agreement (the "Term Loan"), with Bank of America, N.A., as agent.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AT&T INC. incurred credit facility of $12.0 billion with Citibank, N.A., as agent at Term SOFR plus Applicable Margin for Benchmark Rate Advances maturing November 3, 2030.

Instrument: credit facility
Principal: $12.0 billion
Counterparty: Citibank, N.A., as agent
Rate: Term SOFR plus Applicable Margin for Benchmark Rate Advances
Maturity: November 3, 2030
Event: incurrence

Exact text from the filing

On November 3, 2025, AT&T Inc. (the "Company") entered into (i) a $12.0 billion Second Amended and Restated Credit Agreement (the "Revolving Credit Agreement"), with Citibank, N.A., as agent, amending and restating the Company's existing $12.0 billion Amended and Restated Credit Agreement, dated as of November 17, 2022

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317 debt financings filed in the last 30 days. Browse all debt financings →

AT&T INC. filing history →

Source: SEC EDGAR

accession 0001193125-25-262515

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