Workday Secures New $1.5B Revolving Credit Facility Maturing in 2031

Summary of Material Agreement

On October 1, 2026, Workday, Inc. entered into a new Credit Agreement providing for an aggregate principal revolving credit facility of $1.50 billion, replacing its previous $1.00 billion revolving facility dated April 6, 2022.

Key Terms of the Facility

• Facility Size: $1,500,000,000 (with an alternative currency sublimit of up to $525,000,000 in EUR, GBP, CAD, or other approved currencies).
• Maturity Date: October 1, 2031 (5 years), with options to request up to two one-year extensions.
• Current Utilization: As of October 1, 2026, Workday had $0 in outstanding loans under the credit facility.
• Administrative Agent: Wells Fargo Bank, National Association, alongside syndication agents Bank of America, N.A., Barclays Bank PLC, and Morgan Stanley Senior Funding, Inc.
• Interest Rates: Floating rate based on Base Rate or SOFR plus an applicable margin based either on Workday's Consolidated Leverage Ratio or debt rating (Moody's/S&P).
• Financial Covenant: Maximum consolidated leverage ratio of 3.50 to 1.00, with an allowable step-up to 4.50 to 1.00 following a qualified acquisition.

Market & Strategic Impact

This filing represents routine balance sheet management and liquidity expansion, increasing Workday's available undrawn revolving capacity by 50% ($500 million) while extending debt maturity through October 2031 under favorable investment-grade terms.