TDS - Telephone and Data Systems Inc.
12/12/2025 | Press release | Distributed by Public on 12/12/2025 08:02
Material Agreement (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement
On December 8, 2025 (the "Effective Date"), Telephone and Data Systems, Inc. ("TDS"), entered into the Fourth Amendment (the "Amendment") to First Amended and Restated Credit Agreement among TDS, Wells Fargo Bank, National Association, as administrative agent, and the other lenders thereto (the "Credit Agreement").
The Amendment amends the Credit Agreement in pertinent part as follows:
•The maturity date is extended to the fifth anniversary of the Effective Date;
•The credit spread adjustment previously applicable to the Term SOFR interest rate (i.e., 10 basis points for a one-month interest period, 15 basis points for a three-month interest period and 25 basis points for a six-month interest period) is removed;
•The maximum permitted cash netting for the calculation of the consolidated leverage ratio is an amount equal to consolidated EBITDA for the immediately preceding four fiscal quarter period (calculated as of any applicable date of determination); and
•The capacity for secured debt at TDS, and secured and unsecured debt at TDS's subsidiaries, including Array (as defined below) and Array's subsidiaries, is increased by an aggregate amount of $300 million.
The foregoing description is qualified by reference to the copy of the Amendment which is incorporated by reference herein as Exhibit 4.1.
Also effective December 8, 2025, Array Digital Infrastructure, Inc. ("Array"), a subsidiary of TDS, entered into the Fifth Amendment (the "Array Amendment") to First Amended and Restated Credit Agreement among Array, Toronto Dominion (Texas) LLC, as administrative agent, and the other lenders thereto, as disclosed in Array's Form 8-K dated December 8, 2025, which is incorporated by reference herein. The foregoing description is qualified by reference to the copy of the Array Amendment which is incorporated by reference herein as Exhibit 4.2.
TDS - Telephone and Data Systems Inc. published this content on December 12, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 12, 2025 at 14:02 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]