NetApp Inc.
NetApp, Inc. Enters into New Credit Agreement
Summary
On March 5, 2025, NetApp, Inc. entered into a Second Amended and Restated Credit Agreement with lenders, providing for a $1.0 billion revolving unsecured credit facility with an option to extend the maturity date for two additional 1-year periods. The facility includes a sublimit of $50.0 million available for the issuance of letters of credit. The proceeds can be used for general corporate purposes and as liquidity support for its existing commercial paper program. The Credit Agreement requires the Company to comply with a maximum leverage ratio, measured quarterly, and contains customary affirmative and negative covenants. As of March 5, 2025, no borrowings or letters of credit were outstanding under the credit facility.
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About NetApp Inc.
NetApp Inc. is a leading provider of cloud data services and data management solutions worldwide. Specializing in data storage systems, the company helps organizations harness the full potential of their data in the cloud and in the data center environments. NetApp's portfolio includes cloud integration, data storage hardware, and software-defined storage services designed to simplify and optimize data management for businesses of all sizes. Serving industries such as technology, healthcare, financial services, and more, NetApp empowers its clients to store, manage, and analyze data efficiently, enhancing their competitive edge. The company's innovative solutions support both private and public cloud infrastructures, making it a significant player in the rapidly evolving cloud computing market. Founded in 1992 and headquartered in Sunnyvale, California, NetApp contributes substantially to the digital transformation journey of enterprises, highlighting its role in facilitating agile and secure data operations.
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