secwatch.observer — SEC 8-K summary
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Issuer:     HEXCEL CORP /DE/ (HXL)
CIK:        0000717605
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0000930413-23-001421
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717605/000093041323001421/0000930413-23-001421-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717605/000093041323001421/c106287_8k-ixbrl.htm
  HTML page:      https://secwatch.observer/filing/0000930413-23-001421

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