Company: UZF
Filing Date: 2025-06-30
Form Type: 8-K
Source: 0000821130-25-000039
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Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-06-30
Form: 8-K
Item: Item 1.01
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Item 1.01.

Entry into a Material Definitive Agreement

As previously disclosed, on July 30, 2021, United States Cellular Corporation (UScellular) entered into a $500,000,000 Third Amended and Restated Credit Agreement by and among UScellular as the Borrower and CoBank, ACB, as Administrative Agent, and the other lenders party thereto (Existing Credit Agreement). OnJune 25, 2025, the Existing Credit Agreement was amended and restated in its entirety (the Fourth Amended and Restated Credit Agreement).

The Fourth Amended and Restated Credit Agreement provides that the existing borrowing of loans in an initial aggregate principal amount of $500 million under the Existing Credit Agreement, consisting of Term Loan A-1 loans in an initial aggregate principal amount of $200 million (Term Loan A-1 Facility) and Term Loan A-2 loans in an initial aggregate principal amount of $300 million (Term Loan A-2 Facility) (Term Loan A-1 Facility and Term Loan A-2 Facility collectively referred to as Existing Term Loan Amount), shall continue under the Fourth Amended and Restated Credit Agreement and also provides UScellular with a commitment to fund Term Loan A-3 loans in an aggregate amount not to exceed $800 million (Term Loan A-3 Facility) provided the Existing Term Loan Amount is paid off in full prior to borrowing any of the Term Loan A-3 Facility and the transactions contemplated in that certain Securities Purchase Agreement, dated as of May 24, 2024 (Securities Purchase Agreement), by and among UScellular, Telephone and Data Systems, Inc., USCC Wireless Holdings, LLC, and T-Mobile US, Inc., have been consummated. UScellular may borrow the Term Loan A-3 Facility for general corporate purposes, to pay fees and expenses in connection with the Term Loan A-3 facility and to fund all or any portion of a special dividend related to the closing of the transactions contemplated in the Securities Purchase Agreement.

Borrowings under the Fourth Amended and Restated Credit Agreement bear interest, at UScellular’s option, either at a secured overnight financing rate (SOFR) or at an alternative base rate, plus, in each case, an applicable margin.

The two financial covenants described below are included in the Fourth Amended and Restated Credit Agreement:

1. Consolidated Interest Coverage Ratio (the ratio of Consolidated EBITDA to Consolidated Interest Charges) may not be less than