Flex Ltd. signs $3.3 billion senior term loan credit agreement with Citibank
Flex Ltd. entered into a Credit Agreement dated September 29, 2026, providing a $3.3 billion senior term loan facility, with Citibank, N.A. as administrative agent. The facility was undrawn at closing and is intended in part to help fund the cash consideration for the acquisition of EPC Power Corp. and related assets, alongside cash on hand and other financing. Its availability reduces the company's existing $4.4 billion bridge facility dollar-for-dollar, and the filing contains covenants requiring a Debt/EBITDA ratio of no more than 4.50 to 1.00 and an Interest Coverage Ratio of at least 3.00 to 1.00.
Key points
- Credit facility committed amount is $3.3 billion; it was not drawn on the September 29, 2026 closing date
- Loans bear floating interest at Term SOFR or Base Rate plus an applicable margin tied to senior unsecured long-term debt ratings
- Covenants require Debt/EBITDA of no more than 4.50 to 1.00 and Interest Coverage Ratio of at least 3.00 to 1.00
- Effectiveness automatically and permanently reduced the commitments under the existing $4.4 billion 364-day bridge facility by the same amount
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 02, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.