---
schema_version: "secwatch.filing_event.v1"
accession: "0001818874-23-000081"
form_type: "8-K"
ticker: "SOFI"
cik: "0001818874"
company_name: "SoFi Technologies, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:30:33.153905+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SoFi enters amended $550M revolver, borrows $486M to repay existing debt; appoints John Hele to board

## Summary
- Amended and restated revolving credit agreement with $550M capacity; $100M available for letters of credit.
- Borrowed $486M at closing to repay all amounts outstanding under existing credit agreement.
- Maturity extended to five years from April 28, 2023; benchmark rate switched from LIBOR to Term SOFR plus 0.10% spread.
- John Hele appointed to board, effective May 1, 2023; term expires at 2023 annual meeting.
- Hele is President of Resolution Life Group Holdings and former MetLife CFO; will serve on risk committee.

## SEC filing metadata
- accession: 0001818874-23-000081
- form_type: 8-K
- ticker: SOFI
- cik: 0001818874
- company_name: SoFi Technologies, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/0001818874-23-000081-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/sofi-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818874-23-000081
- JSON: https://secwatch.observer/filing/0001818874-23-000081.json
- Plain text: https://secwatch.observer/filing/0001818874-23-000081.txt

## Key facts
- Debt Financings
  SoFi Technologies, Inc. incurred revolving credit of $486 million with Goldman Sachs Bank USA at Term SOFR plus a credit spread adjustment of 0.10% plus an applicable margin of maturing five years from the Closing Date.
  - Instrument: revolving credit
  - Principal: $486 million
  - Counterparty: Goldman Sachs Bank USA
  - Rate: Term SOFR plus a credit spread adjustment of 0.10% plus an applicable margin of
  - Maturity: five years from the Closing Date
  - Event: incurrence
  source text: On the Closing Date, the Company was deemed to incur $486 million in borrowings under the Credit Agreement to repay all amounts outstanding under the Existing Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/0001818874-23-000081-index.htm
- Executive change
  John Hele was appointed as Director at SoFi Technologies, Inc..
  - Action: appointed
  - Role: Director
  source text: On April 27, 2023, John Hele was appointed to the Company's board of directors with a term commencing May 1, 2023 and expiring at the 2023 annual meeting of stockholders where he will be standing for re-election.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/0001818874-23-000081-index.htm
- Material Agreements
  SoFi Technologies, Inc. amended Amended and Restated Revolving Credit Agreement with Goldman Sachs Bank USA, as administrative agent, and the lenders and issuing banks party thereto (effective 2023-04-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Goldman Sachs Bank USA, as administrative agent, and the lenders and issuing banks party thereto
  - Effective: 2023-04-28
  source text: On April 28, 2023 (the “Closing Date”), SoFi Technologies, Inc. (the “Company”), the lenders party thereto, the issuing banks party thereto and Goldman Sachs Bank USA, as administrative agent, entered into that certain Amended and Restated Revolving Credit Agreement (the “Credit Agreement”), which amends and restates that certain Revolving Credit Agreement, dated as of September 27, 2018 (as amended, supplemented or otherwise modified prior to the date hereof, including pursuant to Amendment No. 1, dated as of March 29, 2022, the “Existing Credit Agreement”), among Social Finance, Inc., the lenders party thereto, the issuing banks party thereto and Goldman Sachs Bank USA, as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818874/000181887423000081/0001818874-23-000081-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.