GlobalFoundries secures $1.5B revolving credit facility

GlobalFoundries (NASDAQ: GFS) entered into a new revolving credit agreement on August 21, 2026, establishing a $1.5 billion senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A. serving as administrative agent.

The facility, which matures on August 21, 2031, allows borrowings in U.S. dollars or euros for general corporate purposes. The company holds an option to request up to two one-year extensions of the maturity date.

Dollar-denominated loans will carry interest at either the Adjusted Term SOFR Rate plus a ratings-based margin of 1.000% to 1.625%, or the Alternate Base Rate plus a margin of 0.000% to 0.625%. Euro-denominated loans will bear interest at the Adjusted EURIBOR Rate plus a ratings-based margin of 1.000% to 1.625%.

The credit agreement requires GlobalFoundries to maintain a maximum consolidated leverage ratio of 4.00 to 1.00, with a step-up provision to 4.50 to 1.00 under certain circumstances.

Simultaneously, the company terminated its existing revolving credit facility, originally dated October 18, 2019, which had been administered by Citibank Europe plc, UK Branch. That prior agreement provided a $1 billion revolving credit facility and a $20 million letter of credit facility, both set to mature October 13, 2026. No amounts were outstanding under the prior agreement at the time of termination.

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