Sandisk Corp Enters $1.5 Billion Refinanced Revolving Credit Facility Maturing in 2031

Sandisk Corp Enters Into Amendment No. 1 for $1.5B Revolving Credit Facility

Overview of the Transaction

On September 9, 2026, Sandisk Corporation entered into Amendment No. 1 to its existing Loan Agreement dated February 21, 2025, by and among the Company, Sandisk Technologies, Inc. (SDT), JPMorgan Chase Bank, N.A. as administrative agent, and a syndicate of participating lenders.

Key Terms and Financial Details

• Commitment Amount: $1,500.0 million in aggregate revolving commitments, refinancing in full the revolving commitments outstanding prior to the amendment.
• Maturity: September 9, 2031, with no interim amortization required.
• Interest Rates:
  • U.S. Dollar borrowings bear interest at either (x) Adjusted Term SOFR / Daily Simple SOFR + 1.375% per annum (subject to leverage-based or rating-based step-ups/step-downs), or (y) Base Rate + 0.375% per annum.
  • Multicurrency options include Euros, Japanese Yen, and other agreed lender currencies.
• Fees: Undrawn commitment fee of 0.175% per annum, subject to grid adjustments.
• Guarantees and Collateral: Obligations are guaranteed by Sandisk Technologies, Inc. and secured by Company and SDT assets.
• Investment Grade Release: The amendment includes a mechanism providing for the release of collateral and guarantees upon the Company achieving certain investment grade corporate family ratings.