Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when DELL files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsDell refinances credit facility with new $6B revolving agreement maturing 2031
Filed June 10, 2026 · Period ending June 10, 2026 · ~1 min read
Key Changes
-
medium
Dell entered a new $6 billion revolving credit facility with JPMorgan Chase, maturing June 2031, replacing its 2021 credit agreement. The facility includes a up to $500 million letter of credit sub-facility for general corporate purposes.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Dell simultaneously repaid and terminated all obligations under its prior November 2021 credit agreement, completing a standard refinancing transaction with no outstanding balances carried forward.
Item 1.02 — Termination of a Material Definitive Agreement verify on EDGAR → -
low
The new facility uses SOFR-based or base rate pricing with margins tied to Dell's credit ratings, allowing voluntary prepayment without penalty except for customary breakage costs.
Item 1.02 — Termination of a Material Definitive Agreement verify on EDGAR →
Summary
Dell Technologies completed a routine refinancing of its corporate credit facility on June 10, 2026. The company replaced its 2021 credit agreement with a new five-year, $6 billion revolving facility led by JPMorgan Chase, extending the maturity to 2031. This transaction provides Dell with continued access to flexible borrowing capacity for general corporate needs while securing favorable five-year terms.
For retail investors, this is a standard treasury management action that maintains Dell's financial flexibility without materially changing its capital structure. The refinancing suggests Dell can access credit on competitive terms, and the ratings-based pricing structure incentivizes maintaining strong credit metrics. The $6 billion commitment size remains substantial relative to Dell's operations.
Watch Dell's next quarterly earnings report for any commentary on planned uses of the facility or changes to the company's capital allocation strategy. The absence of immediate borrowings under the new facility suggests this is precautionary liquidity rather than funding for a specific transaction.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 10, 2026, Dell Technologies Inc. (the “Company”), Denali Intermediate Inc., Dell Inc., Dell International L.L.C. (“Dell International”), as a borrower, and EMC Corporation (“EMC”), as a borrower, entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party thereto (the “Credit Agreement”), which provides for a senior unsecured revolving credit facility.
Dell Technologies and its subsidiaries entered into a new Credit Agreement with JPMorgan Chase Bank as administrative agent. The agreement establishes a senior unsecured revolving credit facility, providing the company with flexible borrowing capacity for general corporate purposes.
Added in current filing · verify on EDGAR →
Also on June 10, 2026, and in connection with the entry into the Credit Agreement, Dell International and EMC repaid in full and terminated all of their obligations and commitments under the Existing Credit Agreement
Dell International and EMC fully repaid and terminated their obligations under the prior credit agreement on the same day the new facility was established. This represents a refinancing transaction that replaces the old credit facility with the new one.
Event · Item 1.02 — Termination of a Material Definitive Agreement
Item 1.02 — Termination of a Material Definitive Agreement filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
In connection with the entry into the Credit Agreement, on June 10, 2026, Dell International and EMC repaid all outstanding obligations under the credit agreement, dated as of November 1, 2021, among the Company, Denali Intermediate Inc., Dell Inc., Dell International, EMC, JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party thereto (the “Existing Credit Agreement”), and terminated all obligations and commitments thereunder.
Dell simultaneously terminated its existing credit agreement from November 2021, repaying all outstanding obligations and releasing all guarantors from further obligations. This is a standard refinancing transaction that replaces the old facility with the new one.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jun 17, 2026 · How we verify