Cognizant enters $550 million term loan and $1.85 billion revolving credit facility
On October 5, 2026, Cognizant and its subsidiary Cognizant Worldwide Limited signed a new unsecured credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, replacing the company's existing credit facilities. The company borrowed approximately $1.0 billion under the new revolver, and the facilities mature on October 3, 2031, so shareholders should note the higher debt load and the leverage covenant that applies.
Key points
- Term loan facility of $550 million and revolving credit facility of $1.85 billion, both maturing October 3, 2031
- Term loan proceeds repaid the existing term loan, and about $1.0 billion borrowed under the revolver repaid the existing revolver
- Financial covenant caps the Leverage Ratio at 3.50:1.00, or 4.00:1.00 for up to four quarters after certain material acquisitions
- Borrowers may request an increase of up to $1.2 billion plus voluntary prepayments, subject to conditions
The filing
Written by AI on Nov 8, 2026, 1:10 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 October 06, 2026.
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.