Staff Design Validation Engineer

Flex Ltd. secures USD 3.3 billion senior term loan facility to finance EPC Power acquisition. Published on 10/02/2026 at 04:10 pm EDT S&P Capital IQ On September 29, 2026, Flex Ltd. entered into a Credit Agreement, by and among the Company, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent, which provides a senior term loan credit facility in an aggregate committed amount of $3.3 billion. The Credit Facility was not drawn on the Closing Date. Subject to the satisfaction of the conditions set forth in the Credit Agreement, the Company may borrow under the Credit Facility in a single advance during the availability period provided therein. The Credit Facility will mature 364 days after the date on which it is funded. Loans under the Credit Agreement bear interest at a floating rate, which can be, at the Company?s option, either (a) Term SOFR (as defined in the Credit Agreement) plus an applicable margin or (b) the Base Rate (as defined in the Credit Agreement) plus an applicable margin, in each case, with such margin determined based on the Company?s senior unsecured long-term debt ratings. The Credit Agreement contains various customary covenants, including, but not limited to, restrictions on the ability of the Company and its subsidiaries? to incur indebtedness, grant liens, dispose of material assets, merge or consolidate with or into other companies, materially change the nature of their business, and make certain accounting changes, in each case, subject to various exceptions. The Credit Agreement requires the maintenance of (i) a Debt/EBITDA Ratio (as defined in the Credit Agreement) not to exceed 4.50 to 1.00 as of the last day of any fiscal quarter of the Company and (ii) an Interest Coverage Ratio (as defined in the Credit Agreement) of not less than 3.00 to 1.00 as of the last day of any fiscal quarter of the Company. The Credit Agreement also includes various customary events of default. Upon an event of default, commitments under the Credit Agreement may be terminated and outstanding borrowings may be accelerated. Proceeds of the Credit Facility, together with cash on hand and proceeds of certain other debt or equity issuances or borrowings, are intended to be used to finance a portion of the cash consideration payable in connection with the Company?s acquisition of EPC Power Corp. and related assets, as previously disclosed in the Company?s Current Report on Form 8-K filed on September 4, 2026, to pay related fees and expenses and for other purposes permitted under the Credit Agreement. The effectiveness of the Credit Agreement automatically and permanently reduced, on a dollar-for-dollar basis, the commitments under the Company?s existing $4.4 billion senior unsecured 364-day bridge facility provided pursuant to the commitment letter, dated September 3, 2026, among the Company, Citigroup Global Markets Inc., Bank of America, N.A. and BofA Securities Inc., which was described in such Current Report on Form 8-K referred to above. The obligations under the Credit Agreement are not guaranteed by any subsidiary of the Company; however, the Company may, at any time after the Closing Date and upon prior written notice to the administrative agent, cause any of its subsidiaries to become a subsidiary guarantor. (C) S&P Capital IQ - 2026

New editor of the Flex desk. Jessica Schnall, a stalwart editor and longtime deputy on Flex, is being promoted to editor of the desk. Read more in this note from senior editor Pete Blair. Photo Credit: Michelle V. Agins A couple of years ago, a veteran reporter left a comment on a newsletter Jessica Schnall was editing: "You're making that paragraph sound more like me than I did," the reporter told her. It's that skillful attention to preserving the writer's voice along with her exacting standards and her exhaustive knowledge of language that made Jessica one of the first editors The New York Times Company turned to when The New York Times Company were assembling the Flexible Editing desk in 2019. It's also a large part of why, less than a year later, as the desk was growing rapidly, she became Flex's first deputy editor. And it's a big reason The New York Times Company is promoting her again: this time to editor of the Flex desk. In her seven years on Flex, Jessica has been a supportive and encouraging mentor to countless editors who've joined its team or spent time with The New York Times Company temporarily, several of whom have said they didn't feel as if they'd succeeded until they'd impressed her. Since the desk expanded to London last year, Jessica has been managing its editors there from New York. She also oversees Flex's editing of The Morning, The Times's flagship newsletter, and reviews the work of the senior news assistants who proofread its website as part of the Proofing Project. Jessica's passion for language and her ability to clearly explain the finer nuances of grammar make her the perfect choice to lead Flex at a time when as many as a dozen guests cycle through the desk each year. Few other editors could talk about a subject like fused participles for a half hour and still hold your attention. (That's not a joke. She built a 30-minute presentation on the topic this year.) With my role having recently expanded beyond Flex, Jessica will continue to report to me and will play a more prominent part in running the desk day to day, working with its deputy editor, Wendy Lu, to continue building a best-in-class editor training experience while making sure the team continues to meet the editing needs of the rest of the newsroom. Jessica joined The Times in 2013 and before Flex spent time on the Metro copy desk, the Enterprise copy desk and the News Print Hub. Earlier in her career, she worked for The Athens News, in southeast Ohio, The Northern Virginia Daily and The Boston Herald. Please join me in congratulating her.

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