SAIC (NYSE: SAIC) expands off-balance sheet U.S. receivables facility
Rhea-AI Filing Summary
Science Applications International Corporation (SAIC) entered into Amendment No. 6 to its Master Accounts Receivable Purchase Agreement with MUFG Bank, Ltd. as purchaser. The amendment increases the facility limit for sales of certain designated eligible U.S. government receivables to $400 million, up from $300 million. All other material terms of the existing agreement remain unchanged. The receivables purchase arrangement is also characterized as an obligation under an off-balance sheet arrangement for SAIC.
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8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
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.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Amended receivables facility limit: $400 million
Previous receivables facility limit: $300 million
Amendment number: 6
+2 more
5 metrics
Amended receivables facility limit
$400 million
Maximum amount of certain designated eligible U.S. government receivables that may be sold under the amended facility
Previous receivables facility limit
$300 million
Prior maximum under the existing Master Accounts Receivable Purchase Agreement before Amendment No. 6
Amendment number
6
Amendment No. 6 to the Master Accounts Receivable Purchase Agreement
Agreement amendment date
August 14, 2026
Date SAIC entered into Amendment No. 6 with MUFG Bank, Ltd.
Form 8-K signature date
August 19, 2026
Date the report was signed on behalf of Science Applications International Corporation
Key Terms
Master Accounts Receivable Purchase Agreement, eligible receivables, off-balance sheet arrangement, material definitive agreement
4 terms
Master Accounts Receivable Purchase Agreement financial
"entered into Amendment No.6 (the "Amendment") to the Master Accounts Receivable Purchase Agreement"
A master accounts receivable purchase agreement is a standing contract that lets a company regularly sell its unpaid customer invoices to a buyer in exchange for immediate cash, with agreed rules about pricing, responsibilities, and how disputes are handled. For investors it matters because this arrangement speeds up cash flow and can reduce borrowing needs, but it also comes with fees, affects reported liabilities and credit risk, and can signal how a company finances its working capital.
eligible receivables financial
"sale of up to $400 million of certain designated eligible receivables with the U.S. government"
off-balance sheet arrangement financial
"an Obligation under an Off-Balance Sheet Arrangement of a Registrant"
An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.
material definitive agreement regulatory
"Item 1.01. Entry into a Material Definitive Agreement"
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
FAQ
What agreement did SAIC (SAIC) amend on August 14, 2026?
SAIC entered into Amendment No. 6 to its Master Accounts Receivable Purchase Agreement with MUFG Bank, Ltd.. The company remains a seller and seller representative under this receivables purchase facility focused on U.S. government receivables.
How much receivables capacity does SAIC (SAIC) now have under the MUFG facility?
The amendment increases SAIC’s capacity to sell certain eligible U.S. government receivables to $400 million. This represents an increase from the prior facility limit of $300 million under the existing Master Accounts Receivable Purchase Agreement.
What changed for SAIC (SAIC) in Amendment No. 6 to the receivables purchase agreement?
The primary change is an increase in the facility limit to $400 million of designated eligible U.S. government receivables. The company states that the other material terms of the existing Master Accounts Receivable Purchase Agreement remain unchanged.
Does the amended SAIC (SAIC) receivables facility create an off-balance sheet arrangement?
Yes. SAIC discloses the amended receivables purchase agreement under an item addressing off-balance sheet obligations. The information from the material definitive agreement section is expressly incorporated into the off-balance sheet arrangement disclosure.
Who is the purchaser under SAIC’s (SAIC) amended receivables purchase facility?
The purchaser under the Master Accounts Receivable Purchase Agreement, as amended, is MUFG Bank, Ltd.. SAIC participates as a seller and seller representative in selling certain designated eligible receivables with the U.S. government to this financial institution.
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