Coherent Corp. refinances credit facility with $700 million revolver and $1.25 billion term loan
Coherent amended its credit agreement on September 26, 2025, refinancing its revolving credit commitments and replacing its existing term A loans with a new $1.25 billion incremental term A loan. A separate amendment replaced its term B-2 loans with $1,080,000,000 of new term B-3 loans at a 1.75% margin for term benchmark loans. The filing describes the debt as refinanced and extended, with maturities generally set for September 26, 2030, which affects the company's debt structure and borrowing costs for shareholders.
Key points
- Total revolving credit facility increased to $700 million, with the revolver and new term A loans maturing on the earlier of September 26, 2030 or a springing maturity date
- $1.25 billion in new incremental term A loans used to repay existing term A loans and make a voluntary prepayment of part of the term B-2 loans
- Term B-3 loans of $1,080,000,000 replaced the outstanding term B-2 loans, with a 1.75% margin for term benchmark loans and a 0.50% floor
- Financial covenant reset to a maximum total net leverage ratio of 4.25 to 1.00, with a temporary step-up to 4.75 to 1.00 after a material acquisition
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 26, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.