ADTRAN enters $350M senior secured credit facility led by JPMorgan, replacing prior Wells Fargo facility

ADTRAN Holdings, Inc.

New $350M senior secured credit facility led by JPMorgan replaces prior Wells Fargo facility; German borrower sublimit $50M.
Interest rate margins: Term Benchmark Rate + 2.25%-3.25%, Base Rate + 1.25%-2.25%, with 0.00% floor.
Covenants: max senior secured net leverage 3.25x, min fixed charge coverage 1.25x, liquidity floor $50M during springing period.
Company states facility enhances liquidity, lowers borrowing costs, extends maturities, and improves financial flexibility.
Prior credit agreement and related collateral agreements terminated on July 21, 2026.

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