Fastly, Inc. Amends Credit Facility, Increases Revolver to $100M

What Happened Fastly, Inc. announced on August 17, 2026 that it entered into a Fourth Amendment to its Credit Agreement (originally dated February 16, 2021) with lenders and Silicon Valley Bank (a division of First‑Citizens Bank & Trust Company) acting as administrative agent. The amendment increases the company’s senior secured revolving credit commitments from $60.0 million to $100.0 million, extends the scheduled maturity mechanics tied to August 17, 2029, and reduces borrowing costs.

Key Details

• Revolver increase: commitments raised from $60.0M to $100.0M.
• Maturity / timing: Scheduled Revolving Termination Date set as the earliest of (a) August 17, 2029 (with a possible one‑year extension if Net Liquidity ≥ $200.0M 90 days prior), (b) certain springing dates tied to the company’s 7.75% convertible senior notes due 2028, and (c) subsequent dates if Net Liquidity tests are not met.
• Lower rates: interest spreads reduced by 0.25% to SOFR + 1.75% (or base rate + 0.75%) at the company’s election.
• Fees: commitment fee converted to a quarterly fee — 0.25% p.a. on unused commitments if average daily outstanding balance ≤ $50.0M, or 0.20% p.a. if > $50.0M.
• Item 2.03: The amendment creates/modifies a direct material financial obligation by increasing the company’s revolving credit capacity.

Why It Matters This amendment increases Fastly’s available liquidity and reduces the company’s cost of borrowing, which can support operations, capital needs, or provide flexibility for strategic actions. Investors should note the maturity provisions are tied to Fastly’s net liquidity levels and the outstanding balance of its 2028 convertible notes—if liquidity falls below specified thresholds, the effective maturity could move earlier. The filing signals a material change to Fastly’s credit profile (higher committed capacity and lower rates) and will be filed as an exhibit to the company’s upcoming Form 10‑Q.