FIVE-YEAR REVOLVING CREDIT AGREEMENT

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

4.80x3.50x2.19x

Signed Jun 27, 2025

Committed: $1.5bn
Matures: Jun 2030
Agent: JPMORGAN CHASE BANK, N.A.

Tranche	Size	Matures	Margin
Revolving credit facility	$1.5bn	Jun 2030	80–130 bps

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

Level	Condition	Margin	Unused fee
Level Category 1	A-/A3 or higher	80 bps	8 bps
Level Category 2	BBB+/Baa1	91 bps	9 bps
Level Category 3	BBB/Baa2	102 bps	11 bps
Level Category 4	BBB-/Baa3	110 bps	15 bps
Level Category 5	BB+/Ba1 or lower	130 bps	20 bps

Lenders: JPMORGAN CHASE BANK, N.A., CITIBANK, N.A., MIZUHO BANK, LTD., BOFA SECURITIES, INC., BARCLAYS BANK PLC., BNP PARIBAS SECURITIES CORP., DNB MARKETS, INC., GOLDMAN SACHS BANK USA., HSBC SECURITIES (USA) INC., MORGAN STANLEY MUFG LOAN PARTNERS, LLC., RBC CAPITAL MARKETS, SUMITOMO MITSUI BANKING CORPORATION

CovenantTestedHeadroomLimit now

Tested quarterly32.0%ratio 3.06x, estimated, vs 4.50x limit in force at Jun 30, 20264.50x

Permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower (each such period, a “Test Period”) to exceed 4.50 to 1.00; provided that upon the consummation of a Qualified Material Acquisition, if the Borrower shall so elect by a written notice delivered to the Administrative Agent within 30 days following such consummation, the maximum permitted ratio set forth above shall be increased to 5.00 to 1.00 at the end of and for the fiscal quarter in which such Qualified Material Acquisition is consummated and the subsequent three consecutive fiscal quarters (the “Leverage Increase Period”)

Read the filing on sec.gov ↗

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