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- None of Our Subsidiaries Will Guarantee Either Series of the Notes, and Each Series of the Notes Will Be Structurally Subordinated to the Indebtedness and Other Liabilities of Our Subsidiaries. (new) — The notes are structurally subordinated to all subsidiary debt, meaning noteholders rank behind subsidiary creditors in a bankruptcy or liquidation.
- Certain of the Underwriters or Their Affiliates Are Lenders Under the Revolving Credit Agreement and May Own a Portion of the 2026 Notes. (new) — Underwriters may receive a portion of the offering proceeds because they are lenders or noteholders, creating a conflict of interest.
Kyndryl Holdings to offer senior notes; net proceeds of $700M to repay 2026 Notes and revolver balance
Filed September 24, 2026 · ~2 min read
Key Changes
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Kyndryl is offering two series of senior unsecured notes; principal amounts, interest rates, and maturity dates are not yet specified in this preliminary prospectus supplement.
The Offering verify on EDGAR → -
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Net proceeds to the company are $700 million, which will be used to repay the $700 million 2026 Notes at maturity, with any remainder repaying the Revolving Credit Agreement balance.
Use of Proceeds verify on EDGAR → -
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The notes are not guaranteed by any subsidiary, making them structurally subordinated to all subsidiary liabilities, including trade payables.
The Offering verify on EDGAR →
3 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 4, 2026 · How we verify