Plexus Corporation
06/08/2026 | Press release | Distributed by Public on 06/08/2026 14:16
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On June 5, 2026, Plexus Corp. (the "Company") entered into a Second Amended and Restated Credit Agreement (the "Second Amended and Restated Credit Agreement") by and among the Company, certain of its subsidiaries from time to time party thereto as borrowers (together with the Company, collectively, the "Borrowers"), the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent (the "Administrative Agent"), which replaces in its entirety the Amended and Restated Credit Agreement, dated June 9, 2022, by and among the Company, certain of its subsidiaries party thereto as borrowers, the lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent.
The Second Amended and Restated Credit Agreement has a maturity date of June 5, 2031. The Second Amended and Restated Credit Agreement is comprised of a revolving credit facility under which the maximum commitment is $500 million and which, subject to the conditions set forth therein, may, at the election of the Company, be increased by $250 million to $750 million. Borrowings under the Second Amended and Restated Credit Agreement bear interest, at the Company's option, at a rate equal to an alternate base rate, Term SOFR, EURIBOR, or Daily Simple SONIA, plus, in each case, an applicable interest rate margin based on the ratio of the Company's then current consolidated total indebtedness (minus certain unrestricted cash and cash equivalents in an amount not to exceed $150 million) to consolidated EBITDA. The Company will also pay a fee on the daily unused commitments under the Second Amended and Restated Credit Agreement, based on the ratio of the Company's then current consolidated total debt (minus certain unrestricted cash and cash equivalents in an amount not to exceed $150 million) to consolidated EBITDA, of between 10 and 25 basis points.
The Second Amended and Restated Credit Agreement contains customary covenants and events of default including financial covenants requiring, in each case as of the last day of any period of four consecutive fiscal quarters of the Company, the Company not to permit (a) an interest coverage ratio consisting of the Company's consolidated EBITDA to cash consolidated interest expense to be less than 3.00 to 1.00 and (b) a leverage ratio consisting of the Company's consolidated total debt to consolidated EBITDA to be greater than 3.50 to 1.00, subject to the Company's rights to temporarily increase the leverage ratio to 4.25 to 1.00 in connection with certain material acquisitions.
The foregoing description of the Second Amended and Restated Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amended and Restated Credit Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Incorporated herein by reference to Item 1.01 above.
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