Form 8-K · Current report
Flex Ltd. 8-K, filed Oct 2, 2026
- Filed
- CIK
- 0000866374
- Accession no.
- 0001104659-26-113282
Summary
Flex Ltd. entered into a $3.3 billion senior term loan credit agreement on September 29, 2026 with Citibank, N.A. as administrative agent, undrawn at closing and maturing 364 days after funding, with proceeds intended to finance part of the cash consideration for its acquisition of EPC Power Corp. The agreement automatically reduced commitments under Flex's existing $4.4 billion bridge facility dollar-for-dollar, and Flex separately disclosed a planned spin-off of its cloud and power infrastructure business into an independent public company, Axiom Solutions International, Inc.
Key points
- Loans under the facility bear interest at a floating rate of either Term SOFR or the Base Rate plus a margin set by Flex's senior unsecured long-term debt ratings.
- The agreement requires a Debt/EBITDA ratio no greater than 4.50 to 1.00 and an interest coverage ratio of at least 3.00 to 1.00 at each fiscal quarter end.
- Obligations under the credit agreement are not guaranteed by any Flex subsidiary, though Flex may add subsidiary guarantors after the closing date with prior written notice.
- Proceeds, together with cash on hand and other debt or equity issuances, are intended to fund part of the EPC Power Corp. acquisition, related fees and expenses, and other permitted purposes.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01 Entry into a Material Definitive Agreement. On September 29, 2026 (the “Closing Date”), Flex Ltd. (the “Company” or “Flex”) entered into a Credit Agreement (the “Credit Agreement”), by and among the Company, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent, which provides a senior term loan credit facility (the “Credit Facility”) in an aggregate committed amount of $3.3 billion. The Credit Facility was not drawn on the Closing Date. Subject to the satisfaction of the conditions set forth in the Credit Agreement, the Company may borrow under the Credit Facility in a single advance during the availability period provided therein. …
An excerpt of the text as filed with the SEC, cut for length.
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