Workday said it entered into a new Credit Agreement on October 1, 2026. It said the agreement replaces its prior credit agreement, which had provided a revolving credit facility in an aggregate principal amount of $1,500,000,000, and that the new agreement provides a revolving credit facility in the same aggregate principal amount. The new agreement was entered into on April 6, 2022.

1. 01

   Workday said it entered into a new Credit Agreement on October 1, 2026. It said the agreement replaces its prior credit agreement, which had provided a revolving credit facility in an aggregate principal amount of $1,500,000,000, and that the new agreement provides a revolving credit facility in the same aggregate principal amount. The new agreement was entered into on April 6, 2022.

2. 02

   The company said the revolving credit facility under its prior credit agreement had an aggregate principal amount of $1,000,000,000. Revolving loans under the new agreement may be borrowed, repaid and reborrowed until October 1, 2031. The company also said it may request, no more than two times during the term of the agreement, that each revolving lender extend the maturity date for the revolving loans by 1 year(s).

3. 03

   Workday said it had no outstanding revolving loans under the new agreement as of October 1, 2026. Revolving loans bear interest based on the Consolidated Leverage Ratio, with SOFR-based margins of 0.875% to 1.500%, and the commitment fee on unused amounts is 0.080% to 0.200% per annum.

4. 04

   The company said its financial covenant, tested quarterly, requires it not to exceed a maximum leverage ratio of 3.50 to 1.00. The company also said that for a certain period following a Qualified Acquisition, it may elect to step the ratio up to 4.50 to 1.00.

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Original filing

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