Cisco entered into a Third Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent, providing a 5-year, $5.0 billion unsecured revolving credit facility, dated February 2, 2024.

1. 01

   Cisco entered into a Third Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent, providing a 5-year, $5.0 billion unsecured revolving credit facility, dated February 2, 2024.

2. 02

   The company set sublimits of $250 million for standby letters of credit, $250 million for swingline loans and $1.0 billion for non-U.S. dollar currencies. The facility also allows aborrowing increase of up to $2.0 billion, for a total of up to $7.0 billion, and lets the maturity be extended by 1 years up to two times.

3. 03

   The company said loan interest rates are set as a margin based on its senior debt credit ratings, plus benchmark rates such as Term SOFR. It also said it must maintain a ratio of consolidated EBITDA to consolidated interest expense of at least 3.0 to 1.0.

4. 04

   Cisco instructed Citibank, N.A., the issuing and paying agent, on February 6, 2024 to increase the size of its commercial paper program from $10,000,000,000 to $15,000,000,000.

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