Sandisk Corp 8-K
Debt financing
Revolver refinancing sets a 2031 maturity and permits collateral and guarantee releases, subject to investment-grade ratings and other conditions.
Filed 2026-09-11 16:15 ET
- 1.01 Entry into a Material Agreement
- 9.01 Financial Statements and Exhibits
Summary
Revolving credit facility refinancing. Sandisk replaced all prior revolving commitments with a $1.5B facility maturing 9/9/2031, with no amortization. The agreement allows collateral and guarantee releases, subject to conditions, if Sandisk achieves specified investment-grade corporate family ratings.
Key Figures
- Revolving commitments: $1.5B principal, refinancing the prior revolving commitments in full; available borrowings may be in U.S. dollars, euros, yen and other lender-approved currencies.
- U.S. dollar borrowing rates: Adjusted Term SOFR or Adjusted Daily Simple SOFR + 1.375%, or base rate + 0.375%; margins can step up or down based on net leverage ratio or corporate family ratings. Undrawn commitment fee: 0.175% annually, also subject to adjustments.
- Sandisk Technologies guarantees the obligations; Sandisk and Sandisk Technologies assets secure them, subject to specified exceptions. The agreement also includes a maximum leverage-ratio covenant and restrictions on certain activities, including additional debt, asset transfers and dividends.
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