Flex Ltd. has announced the entry into a new $2.75 billion Credit Agreement, effective July 15, 2025. The agreement, made with Bank of America, N.A. as the Administrative Agent, includes several banks and financial institutions as lenders. This New Credit Facility, which will mature on July 15, 2030, comprises a revolving credit facility with sublimits of $400 million for swing line loans and $200 million for letters of credit. Flex Ltd. also has the option to expand this facility by up to $500 million, subject to lender commitments and certain conditions. This agreement carries no security and imposes customary restrictions on Flex Ltd.'s ability to incur debt, acquire entities, and incur liens, while requiring adherence to specific financial ratios. Various lenders involved have previously provided financial services to Flex Ltd., and an affiliate of one lender serves as the Trustee for the company's notes due between 2026 and 2032.
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