Extreme Networks enters $500M revolving credit facility, repays existing debt

EXTREME NETWORKS INC

New 5-year $500M revolver with JPMorgan as admin agent, matures July 29, 2031.
Borrowed $200M at closing to repay existing credit facility; $300M remains available.
Interest rates: SOFR + 1.25%-2.00% or base rate + 0.25%-1.00%, based on leverage.
Financial covenants: interest coverage ≥3.00x, total net leverage ≤3.75x (step-up to 4.25x for acquisitions).
Uncommitted accordion feature up to $175M plus additional amounts.

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