CREDIT AGREEMENT

When the limit steps, and which way the company's ratio has been moving.

7.76x7.30x6.84x

Signed Jul 23, 2026

Committed: $2.5bn
Matures: Jul 2031
Agent: Wells Fargo Bank, National Association

Tranche	Size	Matures	Margin
Revolving credit facility	$2.5bn	Jul 2031	75–138 bps

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

Level	Condition	Margin	Unused fee
Level I	A-/A- or higher	75 bps	8 bps
Level II	BBB+/BBB+	88 bps	10 bps
Level III	BBB/BBB	100 bps	11 bps
Level IV	BBB-/BBB-	113 bps	15 bps
Level V	BB+/BB+ or lower	138 bps	20 bps

Lenders: Wells Fargo Securities, LLC, Citibank, N.A., Wells Fargo Bank, National Association, Barclays Bank PLC, Bank of America, N.A., Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., Royal Bank of Canada, The Toronto-Dominion Bank, New York Branch

CovenantTestedHeadroomLimit now

Tested quarterly2.0%ratio 7.35x, estimated, vs 7.50x limit in force at Jun 30, 20267.50x

The Borrower will not permit the Consolidated Total Net Leverage Ratio as of the last day of any Test Period to exceed 7.50 to 1.00

Read the filing on sec.gov ↗

Tested quarterly8.1%ratio 7.35x, estimated, vs 8.00x limit in force at Jun 30, 20268.00x

for any such date occurring after a Qualified Acquisition and on or prior to the last day of the third full fiscal quarter of the Borrower after the consummation of such Qualified Acquisition, the Borrower will not permit the Consolidated Total Net Leverage Ratio as of such date to exceed 8.00 to 1.00

Read the filing on sec.gov ↗

Tested quarterlyHeadroom not yet measured3.50x

The Borrower will not permit the Consolidated Senior Secured Leverage Ratio as of the last day of any Test Period to exceed 3.50 to 1.00

Read the filing on sec.gov ↗

Download CSV · Download JSON

Amendments

No amendments on file yet.

Report an error

Email [email protected].