---
schema_version: "secwatch.filing_event.v1"
accession: "0000930413-23-001421"
form_type: "8-K"
ticker: "HXL"
cik: "0000717605"
company_name: "HEXCEL CORP /DE/"
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T07:01:06.166619+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Hexcel enters new $750M credit facility, borrows $60M to repay existing facility

## Summary
- New $750M revolving credit facility matures April 25, 2028; replaced facility that was to expire June 20, 2024.
- $60M borrowed on April 25, 2023 to repay all amounts under the terminated credit facility and pay fees.
- No early termination penalties incurred.
- Interest rate initially SOFR + 1.125% for SOFR loans; margin may fluctuate based on debt rating or leverage ratio.
- Financial covenants include minimum interest coverage and max consolidated net leverage ratio; facility can be increased by up to $500M.

## SEC filing metadata
- accession: 0000930413-23-001421
- form_type: 8-K
- ticker: HXL
- cik: 0000717605
- company_name: HEXCEL CORP /DE/
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/717605/000093041323001421/0000930413-23-001421-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/717605/000093041323001421/c106287_8k-ixbrl.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000930413-23-001421
- JSON: https://secwatch.observer/filing/0000930413-23-001421.json
- Plain text: https://secwatch.observer/filing/0000930413-23-001421.txt

## Key facts
- Material Agreements
  HEXCEL CORP /DE/ entered into Credit Agreement with Citizens Bank, N.A., as administrative agent for the lenders, and the other institutions party thereto valued at $750 million (effective 2023-04-25).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citizens Bank, N.A., as administrative agent for the lenders, and the other institutions party thereto
  - Value: $750 million
  - Effective: 2023-04-25
  source text: On April 25, 2023, Hexcel Corporation ("Hexcel") entered into a new credit agreement (the "Credit Agreement") governing its $750 million revolving credit facility (the "Revolver"), which matures on April 25, 2028.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717605/000093041323001421/0000930413-23-001421-index.htm
- Material Agreements
  HEXCEL CORP /DE/ terminated Terminated Credit Facility with Citizens Bank, N.A., as administrative agent for the lenders, and the other institutions party thereto (effective 2023-04-25).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Citizens Bank, N.A., as administrative agent for the lenders, and the other institutions party thereto
  - Effective: 2023-04-25
  source text: On April 25, 2023, Hexcel borrowed $60 million under the Credit Agreement, the proceeds of which were used to repay all amounts, and terminate all commitments, outstanding under the existing credit agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/717605/000093041323001421/0000930413-23-001421-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.