Gen Digital extends credit facilities to 2031

Gen Digital Inc. amended its main credit agreement by extending the maturity of its revolving credit facility to March 27, 2031, subject to a minimum liquidity test.

Rhea-AI Filing Summary

Gen Digital Inc. amended its main credit agreement by extending the maturity of its revolving credit facility to March 27, 2031, subject to a minimum liquidity test. The company also created a new class of Extended Term A Loans totaling $2,741 million, using these borrowings and cash on hand to repay all remaining Initial Tranche A Term Loans. The Extended Term A Loans will bear interest at either a base rate or the secured overnight financing rate, in each case plus a margin tied to Gen Digital’s debt rating and total leverage ratio, and will amortize at 5% of the original principal per year in equal quarterly installments, while the revolver has no amortization.

Insights

Capital structure analyst

Gen Digital refinances and extends major credit facilities to 2031.

Gen Digital has amended its credit agreement to push out the maturity of its revolving credit facility to March 27, 2031 and restructure term debt into Extended Term A Loans totaling $2,741 million. Proceeds and cash on hand fully repaid the prior Initial Tranche A Term Loans.

Interest on the Extended Term A Loans is now priced off either the bank base rate or the secured overnight financing rate, plus a margin linked to the company’s non-credit-enhanced senior unsecured Debt Rating and its Total Leverage Ratio. This keeps pricing explicitly tied to credit quality and leverage metrics.

The Extended Term A Loans amortize at 5.00% of original principal annually in equal quarterly installments, while the revolving facility carries no amortization. Overall effect on leverage, liquidity and interest cost will depend on future ratings, leverage levels and how actively the revolver is drawn.

8-K Event Classification

Item 1.01 — Entry into a Material Definitive Agreement

1 item

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What credit agreement change did Gen Digital (GEN) announce?

Gen Digital amended its Amended and Restated Credit Agreement through a Third Amendment. The change extends the revolving credit facility maturity to March 27, 2031 and replaces Initial Tranche A Term Loans with new Extended Term A Loans, adjusting interest and amortization terms.

How large are Gen Digital’s Extended Term A Loans under the new amendment?

The amendment establishes Extended Term A Loans totaling $2,741 million. Gen Digital used the proceeds, together with cash on hand, to repay in full all remaining Initial Tranche A Term Loans, effectively refinancing that portion of its term debt under updated terms and maturities.

What happens to Gen Digital’s $1,500 million revolving credit facility?

The revolving credit facility, sized at $1,500 million, now has its maturity extended to March 27, 2031, subject to a minimum liquidity test. The revolver carries no amortization, allowing Gen Digital to draw and repay within the commitment period without scheduled principal reductions.

How will interest be calculated on Gen Digital’s Extended Term A Loans?

Extended Term A Loans bear interest at Gen Digital’s option based on either the bank’s base rate or the secured overnight financing rate. In both cases, a margin applies that depends on the company’s non-credit-enhanced senior unsecured Debt Rating and its Total Leverage Ratio.

What is the amortization schedule for Gen Digital’s Extended Term A Loans?

The Extended Term A Loans amortize in equal quarterly installments each year. The aggregate annual amortization equals 5.00% of the original principal amount over the full term, providing a gradual paydown profile while leaving most principal due at maturity absent voluntary prepayments.

Where can investors find the full Third Amendment to Gen Digital’s credit agreement?

Gen Digital plans to file the complete text of the Third Amendment as an exhibit to its Annual Report on Form 10-K for the fiscal year ended April 3, 2026. Investors can review that Form 10-K filing to see all detailed terms and covenants.

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Accepted by SEC EDGAR 03/27/2026 - 04:14 PM Learn about SEC filing dates

0000849399false00008493992026-03-272026-03-270000849399us-gaap:CommonStockMember2026-03-272026-03-270000849399gen:ContingentValueRightsMember2026-03-272026-03-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): March 27, 2026

Gen Digital Inc.

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation or organization)

000-17781 (Commission File Number)

77-0181864 (I.R.S. Employer Identification Number)

60 E. Rio Salado Parkway,

Suite 1000,

Tempe,

Arizona

85281

(Address of principal executive offices and zip code)

(650)

527-8000

(Registrant's telephone number, including area code)

___________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class						Trading Symbol			Name of each exchange on which registered
Common Stock,			par value $0.01 per share			GEN			The Nasdaq Stock Market LLC
Contingent Value Rights						GENVR			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01.    Entry into a Material Definitive Agreement.

On March 27, 2026, Gen Digital Inc. (“Gen Digital” or the “Company”) entered into the Third Amendment to Amended and Restated Credit Agreement (the “Amendment”) with the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent, pursuant to which Gen Digital amended its existing Amended and Restated Credit Agreement, dated as of September 12, 2022 (as amended by the First Amendment to Amended and Restated Credit Agreement dated as of June 5, 2024 and the Second Amendment to Amended and Restated Credit Agreement dated as of April 16, 2025, the “Existing Credit Agreement”).

Pursuant to the Amendment, the Company (i) extended the maturity date with respect to its $1,500 million Revolving Credit Facility (as defined in the Existing Credit Agreement) to March 27, 2031, subject to a springing maturity date if Gen Digital does not satisfy a minimum liquidity test (the “Extended Maturity Date”), (ii) extended the maturity date with respect to a portion of its Initial Tranche A Term Loans (as defined in the Existing Credit Agreement) to the Extended Maturity Date through the establishment of a new class of term loans (the “Extended Term A Loans”), (iii) incurred additional Extended Term A Loans, the proceeds of which, together with cash on hand, were used to repay in full all remaining Initial Tranche A Term Loans, and (iv) made certain other changes to the Existing Credit Agreement.

The Company’s $2,741 million Extended Term A Loans will bear interest, at the Company’s option, at either a rate equal to (x) the bank’s base rate plus a margin based on the better of (i) the debt rating of the Company’s non-credit-enhanced, senior unsecured long-term debt (the “Debt Rating”) and (ii) the ratio of consolidated funded debt to consolidated EBITDA (the “Total Leverage Ratio”) of the Company or (y) the secured overnight financing rate plus a margin based on (i) the Debt Rating and (ii) the Total Leverage Ratio of the Company.

The Revolving Facility has no amortization. The Extended Term A Loans will amortize in equal quarterly installments in aggregate annual amounts equal to 5.00% of the original principal amount for the entire term of such facility.

The foregoing description of the Amendment is only a summary, does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Amendment, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended April 3, 2026.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 27th day of March, 2026.

Gen Digital Inc.
By:			/s/ Bryan S. Ko
			Bryan S. Ko
			Chief Operating Officer, Chief Legal Officer and Secretary

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.6 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 27.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 16.3 KB