Fastly, Inc. filed a Form 8-K on August 17, 2026, disclosing that it entered into a Fourth Amendment to its Credit Agreement, increasing its senior secured revolving credit facility and extending its maturity date, among other changes.

Key Highlights

  • Facility size increased: The revolving credit facility commitment was raised from $60.0 million to $100.0 million.
  • Maturity extended: The scheduled maturity date was extended to August 17, 2029, with an option to extend one additional year under certain Net Liquidity conditions.
  • Interest rate reduced: Borrowing rates were decreased by 0.25%, with the new rates set at SOFR plus 1.75% or base rate plus 0.75%, at the company's election.
  • Commitment fee adjusted: The fee structure shifts to 0.25% per annum on unused commitments if average daily balances are at or below $50.0 million, or 0.20% per annum if above $50.0 million.
  • Springing maturity tied to 2028 Notes: Early maturity may be triggered if Net Liquidity falls below $200.0 million (or $120.0 million if less than $50.0 million of the 7.75% convertible senior notes due 2028 remain outstanding) at specified test dates.
  • Signed by CFO: The filing was signed by Richard Wong, Chief Financial Officer of Fastly, Inc.

Fastly Amends Credit Agreement with Silicon Valley Bank Division

According to the filing, Fastly, Inc. (NASDAQ:FSLY) entered into the Fourth Amendment to its Credit Agreement on August 17, 2026. The original Credit Agreement was dated February 16, 2021, with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, serving as administrative agent, issuing lender, and swingline lender. The amendment modifies several key terms of the existing senior secured revolving facility.

The filing disclosed that the facility commitment was increased from $60.0 million to $100.0 million. The scheduled maturity date was extended to August 17, 2029. The company may elect to extend that date by one year, provided that Net Liquidity, defined in the filing as "the sum of available amounts to be drawn under the Credit Facility plus the aggregate amount of cash and cash equivalents held by the Company in deposit accounts or securities accounts subject to a first priority perfected lien of the Agent," is greater than or equal to $200.0 million as of the date that is 90 days prior to the Scheduled Revolving Termination Date.

The amendment also introduces springing maturity provisions linked to the company's 7.75% convertible senior notes due 2028. According to the filing, the maturity date could be triggered earlier than August 17, 2029 if Net Liquidity falls below specified thresholds at defined test dates relative to those notes. The Fourth Amendment will be filed as an exhibit to the company's quarterly report on Form 10-Q for the quarter ending September 30, 2026, the filing stated.

What Was Disclosed

Fastly disclosed a Fourth Amendment to its Credit Agreement, expanding its revolving facility from $60.0 million to $100.0 million, extending the maturity to August 17, 2029, reducing borrowing rates by 0.25%, and adjusting the commitment fee structure.