Gen Digital Inc. announced on June 5, 2024 (the closing date), the company entered into the First Amendment to Amended and Restated Credit Agreement (the Amendment) with the guarantors party thereto, Bank of America, N.A., as administrative agent, each consenting term lender and Wells Fargo Bank, National Association, as additional tranche B-1 term lender (Additional Tranche B-1 Term Lender), pursuant to which the Company amended its Amended and Restated Credit Agreement, dated as of September 12, 2022 (the Existing Credit Agreement). Pursuant to the Amendment, the company refinanced its existing $3,690 million term B facility maturing September 12, 2029 (of which approximately $2,443,875,000 was outstanding immediately prior to the Closing Date) with a repriced $2,443,875,000 term B-1 facility (the Term B-1 Facility and such repriced term loans, the Tranche B-1 Term Loans). The Term B-1 Facility includes additional tranche B-1 term loans (Additional Tranche B-1 Term Loans) in an aggregate principal amount equal to $209,388,958.66 made by the Additional Tranche B-1 Term Lender that were used to repay in full the term loans under the initial term B facility made by any non-consenting term lender.

The Additional Tranche B-1 Term Loans have the same terms and provisions as the Tranche B-1 Term Loans of the consenting term lenders. The Tranche B-1 Term Loans will bear interest, at the company?s option, at either a rate equal to (x) the bank?s base rate plus a 0.75% margin or (y) SOFR, plus a 1.75% margin. Under the terms of the Amendment, the Company may select an interest period of one, three or six months for the Tranche B-1 Term Loans if the SOFR rate is chosen.