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Get filing alertsTeradata refinances credit facility, repays $500M term loan, secures new $400M revolver
Filed June 24, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
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Teradata repaid its $500M term loan in full and replaced its 2022 credit agreement with a new $400M five-year unsecured revolving facility maturing June 2031, reducing debt obligations while maintaining liquidity access.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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The new facility bears interest at a floating rate (base rate or SOFR) plus a margin of 0.00%–0.500% for base rate borrowings and 1.000%–1.500% for other borrowings, with pricing tied to Teradata's leverage ratio.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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The credit agreement includes standard covenants requiring maintenance of a leverage ratio and restrictions on subsidiary debt, liens, and fundamental corporate changes, providing lender protections within defined operational parameters.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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The prior 2022 credit agreement was terminated on June 24, 2026, in connection with the new facility; the new agreement removed sustainability features and the term loan commitment present in the prior agreement.
Item 1.02 — Termination of a Material Definitive Agreement verify on EDGAR →
Summary
Teradata executed a debt refinancing on June 24, 2026, that materially strengthens its balance sheet. The company repaid its $500 million term loan in full and replaced its 2022 credit agreement with a new $400 million five-year unsecured revolving facility.
This transaction eliminates a fixed debt obligation while preserving liquidity access through the revolver, which matures in June 2031 and can be expanded by up to $200 million with lender consent. The new facility's interest rate structure ties borrowing costs to Teradata's leverage ratio, with margins ranging from 1.000% to 1.500% for SOFR-based borrowings.
The agreement includes customary financial covenants, including leverage ratio maintenance requirements. For retail holders, this refinancing represents a straightforward deleveraging move that reduces fixed debt service obligations and provides financial flexibility. The removal of sustainability features from the prior agreement is a structural simplification with no apparent operational impact.
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 24, 2026, Teradata Corporation (“Teradata”) entered into a Credit Agreement with Bank of America, N.A., as Administrative Agent and the lenders party thereto (the “Credit Agreement”).
The Credit Agreement provides for a five-year unsecured revolving credit facility in an aggregate principal amount of up to $400 million, including a $50 million sublimit for the issuance of standby letters of credit and a $50 million sublimit for swingline loans (the “Facility”).
Teradata entered into a new credit agreement providing a $400 million unsecured revolving credit facility with a five-year term maturing June 24, 2031. The facility includes sublimits for letters of credit and swingline loans, and can be increased by up to $200 million with lender consent.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 29, 2026 · How we verify