← ADTRAN Holdings, Inc.

CREDIT AGREEMENT

Signed Jul 21, 2026

Committed
$350m
Matures
n/a
Agent
JPMorgan Chase Bank, N.A.; J.P. Morgan SE
TrancheSizeMaturesMargin
Revolving credit facility$350mn/a225–325 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level 1Less than or equal to 2.00:1.00225 bps20 bps
Level 2Greater than 2.00:1.00, but less than or equal to 2.50:1.00250 bps20 bps
Level 3Greater than 2.50:1.00, but less than or equal to 3.00:1.00275 bps25 bps
Level 4Greater than 3.00:1.00, but less than or equal to 3.50:1.00300 bps25 bps
Level 5Greater than 3.50:1.00325 bps25 bps

Lenders: JPMorgan Chase Bank, N.A., Citibank, N.A., Bank of Montreal, Chicago Branch

Tested quarterlyHeadroom not yet measured1.25x
As of the last day of any fiscal quarter, commencing with the fiscal quarter ending December 31, 2026, the Borrowers will not permit the Consolidated Fixed Charge Coverage Ratio for such Reference Period to be less than 1.25:1.00.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measuredn/a
As of the last day of any fiscal quarter, commencing with the fiscal quarter ending December 31, 2026, the Borrowers will not permit the Consolidated Senior Secured Net Leverage Ratio to exceed 3.25:1.00; provided that at any time during a Springing Covenant Period, the Borrowers will not... exceed 3.75:1.00... and... 3.50:1.00.
Read the filing on sec.gov ↗
Tested springingHeadroom not yet measured$50m

Springing: As of the last day of any fiscal quarter during a Springing Covenant Period.

As of the last day of any fiscal quarter during a Springing Covenant Period, the Borrowers will not, and will not permit any of their respective Subsidiaries to permit Liquidity to be less than $50,000,000.
Read the filing on sec.gov ↗

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