Kyndryl Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
On March 14, 2025, Kyndryl Holdings, Inc. (the “Company”) entered into an amended and restated five-year revolving credit agreement (the “Amended Agreement”), among JPMorgan Chase Bank, N.A., as Administrative Agent and the lenders in this Amended Agreement (the “Revolving Lenders”), which amends and restates the five-year revolving credit agreement, dated as of October 18, 2021 (as amended by Amendment No. 1, dated as of June 21, 2023, the “Existing Agreement”).
The Amended Agreement amends and extends the expiration date from October 16, 2026 to March 14, 2030. Other than this change, the material terms of the Amended Agreement are substantially similar to the terms of the Existing Agreement.
The Amended Agreement permits the Company to borrow up to an aggregate amount of $3.15 billion on a revolving basis, consistent with the Existing Agreement.
This summary description of the Amended Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended Agreement, which is filed as Exhibit 10.1 to this report, and is incorporated by reference herein.
In the ordinary course of their respective businesses, the Revolving Lenders and their affiliates have engaged, and may in the future engage, in commercial banking, investment banking, financial advisory or other services with the Company and/or its subsidiaries for which they have in the past and/or may in the future receive customary compensation and expense reimbursement.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Number | Description of Exhibit | |
| 10.1 | Amended and Restated Five-Year Revolving Credit Agreement, dated as of March 14, 2025, by and among Kyndryl Holdings, Inc, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, and the other financial institutions party thereto | |
| 104 | Cover Page Interactive Data File (embedded in the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 14, 2025
| KYNDRYL HOLDINGS, INC. | ||
| By: | /s/ Evan Barth | |
| Name: Evan Barth | ||
| Title: Vice President, Associate General Counsel and Assistant Corporate Secretary | ||