Business Context and Reporting Period
Company: Science Applications International Corporation (SAIC)
Filing Type: Form 8-K (Current Report)
Date of Report: March 1, 2021
Event: Entry into a Material Definitive Agreement regarding the company's credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. It specifically addresses a modification to the company's debt instrument terms.
| Debt Instrument | Previous Terms | New Terms (Effective March 1, 2021) |
|---|---|---|
| Tranche B2 Loans | Not specified in this filing | LIBOR + 1.875% or Base Rate + 0.875% |
| Collateral & Guarantees | Existing | Unchanged |
Material Changes
- Interest Rate Reduction: SAIC entered into the Third Amendment to its Third Amended and Restated Credit Agreement to reduce interest rate margins on Tranche B2 Loans.
- Administrative Agent: Citibank, N.A. remains the administrative and collateral agent.
- Other Terms: All remaining terms of the Existing Credit Agreement remain unchanged.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks beyond the standard disclosure that the description of the Amendment is qualified by reference to the full agreement filed as Exhibit 10.1.
Investor Verification Checklist
- Verify the full text of the Third Amendment (Exhibit 10.1) for any covenants or conditions not summarized in the 8-K.
- Confirm the impact of the reduced interest margin on future interest expense projections.
- Review the original Credit Agreement (dated October 31, 2018) to understand the baseline terms prior to this amendment.