Sandisk enters $1.5B revolving credit facility due 2031, amends loan agreement

Sandisk Corp

New $1.5B revolving credit facility refinances prior commitments; matures Sept 9, 2031.
Interest at SOFR +1.375% or base rate +0.375%, with step-ups based on leverage/ratings.
Commitment fee of 0.175% on undrawn amounts; facility includes Euro/Yen borrowings.
Amendment provides for release of collateral/guarantees upon achieving investment-grade ratings.
Guaranteed by Sandisk Technologies and secured by assets; financial covenant caps leverage ratio.

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