Gen Digital Inc. 8-K

What Happened
Gen Digital Inc. filed an 8-K (Item 1.01) on March 27, 2026 reporting a Third Amendment to its Amended and Restated Credit Agreement (originally dated Sept. 12, 2022). The amendment (the “Amendment”) extends the maturity of the Company’s $1,500 million Revolving Credit Facility to March 27, 2031 (subject to an earlier “springing” maturity if a minimum liquidity test is not met), creates a new class of Extended Term A Loans, and replaces the remaining Initial Tranche A Term Loans by incurring $2,741 million of Extended Term A Loans.

Key Details

• Amendment date: March 27, 2026; referenced prior amendments dated June 5, 2024 and April 16, 2025.
• Revolving Credit Facility: $1,500 million; extended maturity to March 27, 2031; no scheduled amortization.
• Extended Term A Loans: $2,741 million principal; proceeds plus cash used to repay all remaining Initial Tranche A Term Loans.
• Amortization & interest: Extended Term A Loans amortize quarterly in aggregate annual amounts equal to 5.00% of original principal; interest at company’s option: (a) bank base rate + margin (margin set by Debt Rating or Total Leverage Ratio) or (b) SOFR + margin (also based on Debt Rating and Total Leverage Ratio).
• The Amendment makes other contractual changes; the full text will be filed as an exhibit to Gen Digital’s Form 10‑K for fiscal year ended April 3, 2026.

Why It Matters
This amendment pushes out the maturities on Gen Digital’s key credit facilities and converts outstanding term debt into a new extended term class, improving near-term maturity profile and providing liquidity runway through 2031 (subject to the liquidity covenant). Investors should note the sizable $2.741B Extended Term A Loans, the scheduled 5% annual amortization, and that interest pricing will vary based on the company’s debt rating or leverage — all of which affect cash interest costs and debt-service obligations going forward.