Coherent Corp. amends $2.23 billion term B loan, cutting interest rate margin
Coherent Corp. entered into Amendment No. 3 to its Credit Agreement on January 2, 2025, replacing $2,232,357,812.50 in existing term B loans with new term loans of the same amount. The new loans carry a lower interest rate margin, reduced from 2.50% to 2.00% for term benchmark loans, with maturities unchanged, which may lower the company's borrowing costs.
- Principal amount of term B loans replaced: $2,232,357,812.50, on an equal-amount basis
- Term benchmark loan margin cut from 2.50% to 2.00%; base rate loan margin cut from 1.50% to 1.00%
- Term benchmark floor set at 0.50%
- Maturities of new term B loans, revolving credit facility and term A loan remain unchanged