Flex enters USD 1.45 billion term loan credit agreement with Citibank-led lenders

Citigroup Inc.
Flex Ltd

Citigroup Inc.

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Flex Ltd

FLEX

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  • Flex entered a Credit Agreement for a USD 1.45 billion senior term loan facility with lenders led by Citibank as administrative agent.
  • Facility was fully funded on May 29, 2026; maturity set for Nov. 29, 2027.
  • Borrowings float at Term SOFR or Base Rate, each with an applicable margin tied to senior unsecured debt ratings.
  • Proceeds earmarked for general corporate purposes, including refinancing the Existing 364-Day Facility used partly for the Electrical Power Products acquisition.
  • Financial covenants include max Debt/EBITDA of 4.00x, minimum interest coverage of 3.00x, tested quarterly.


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