Company: EXEEZ
Filing Date: 2025-09-30
Form Type: 8-K
Source: 0001104659-25-095028
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Company: EXPAND ENERGY Corp
Filing Date: 2025-09-30
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive
Agreement.

On September 30, 2025 (the “ Effective
Date”), Expand Energy Corporation (“ Expand” or the “ Company”) entered into an amended and restated credit
agreement (the “ Credit Agreement”) with the lenders and issuing banks party thereto (the “ Lenders”), and JPMorgan
Chase Bank, N. A., as administrative agent (in such capacity, the “ Administrative Agent”), providing for an unsecured revolving
credit facility (the “ Credit Facility”) with initial aggregate commitments of $3.5 billion and incremental capacity for additional
commitments in an amount up to $1.0 billion, subject to the receipt of commitments thereto and certain customary conditions. The Credit
Facility matures five years from the Effective Date. The Credit Facility provides for a $1.0 billion sublimit of the aggregate commitments
that are available for the issuance of letters of credit and a $100.0 million sublimit of the aggregate commitments that are available
for swingline loans.

The Credit Agreement contains restrictive covenants
that limit Expand and its subsidiaries’ ability to, among other things but subject to exceptions customary to investment-grade,
unsecured revolving credit facilities: (i) incur priority indebtedness, (ii) enter into mergers; (iii) make or declare
dividends; (iv) incur liens; (v) sell all or substantially all of their assets; and (v) engage in certain transactions
with affiliates. The Credit Agreement also contains customary affirmative covenants, including, among other things, as to compliance with
laws (including environmental laws and anti-corruption laws), delivery of quarterly and annual financial statements, conduct of business,
maintenance of property and maintenance of insurance. The Credit Agreement requires Expand to maintain compliance with a ratio of Expand’s
total indebtedness to the sum of total indebtedness plus stockholders’ equity (the debt to capitalization ratio), not to exceed
65%.

Borrowings under the Credit Agreement may be base
rate loans or term SOFR loans, at the Company’s election. Interest is payable quarterly for base rate loans and at the end of the
applicable interest period for term SOFR loans. Term SOFR loans bear interest at term SOFR plus an applicable rate ranging from 1.125%
to 2.00% per annum, depending on Expand’s index debt rating. Expand may prepay any amounts borrowed prior to the maturity date