secwatch.observer — SEC 8-K summary
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Issuer:     COGNIZANT TECHNOLOGY SOLUTIONS CORP (CTSH)
CIK:        0001058290
Form:       8-K
Filed at:   2026-10-06T20:32:12+00:00
Accession:  0001058290-26-000033
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Cognizant signs $2.4B credit facilities: $550M term loan, $1.85B revolver, replacing existing loans
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- New unsecured facilities total $2.4B ($550M term loan, $1.85B revolver), mature Oct 3, 2031; proceeds repaid and terminated Cognizant's prior credit facilities on the Oct 5, 2026 closing date.
- Borrower also drew ~$1.0B under the revolver on the closing date; revolver supports general corporate purposes and can be borrowed, repaid and reborrowed until maturity.
- Initial pricing: Term Benchmark/RFR loans +0.875%, ABR loans +0%; margins set by a grid tied to Cognizant's index debt ratings or leverage ratio.
- Term loan has no scheduled payments in the first year, then quarterly installments of $6.875M with the balance due at maturity; accordion allows up to $1.2B of additional commitments.
- Financial covenant caps leverage at 3.50:1.00, step-up to 4.00:1.00 for up to four quarters after a material acquisition; JPMorgan Chase Bank, N.A. is administrative agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058290/000105829026000033/0001058290-26-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058290/000105829026000033/ctsh-20261005.htm
  HTML page:      https://secwatch.observer/filing/0001058290-26-000033

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