Company: KD
Filing Date: 2025-03-14
Form Type: 8-K
Source: 0001104659-25-023982
Chunk: 0

Company: Kyndryl Holdings, Inc.
Filing Date: 2025-03-14
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On March 14, 2025, Kyndryl Holdings, Inc. (the
“ Company”) entered into an amended and restated five-year revolving credit agreement (the “ Amended Agreement”),
among JPMorgan Chase Bank, N. A., as Administrative Agent and the lenders in this Amended Agreement (the “ Revolving Lenders”),
which amends and restates the five-year revolving credit agreement, dated as of October 18, 2021 (as amended by Amendment No. 1, dated
as of June 21, 2023, the “ Existing Agreement”).

The Amended Agreement amends and extends the expiration
date from October 16, 2026 to March 14, 2030. Other than this change, the material terms of the Amended Agreement are substantially similar
to the terms of the Existing Agreement.

The Amended Agreement permits the Company to borrow
up to an aggregate amount of $3.15 billion on a revolving basis, consistent with the Existing Agreement.

This summary description of the Amended Agreement
does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended Agreement, which is filed
as Exhibit 10.1 to this report, and is incorporated by reference herein.

In the ordinary course of their respective businesses,
the Revolving Lenders and their affiliates have engaged, and may in the future engage, in commercial banking, investment banking, financial
advisory or other services with the Company and/or its subsidiaries for which they have in the past and/or may in the future receive customary
compensation and expense reimbursement.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this
Current Report on Form 8-K is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits