Cogent amends indenture to raise secured leverage ratio to 4.75x and mandate data center sale proceeds for debt buybacks

COGENT COMMUNICATIONS HOLDINGS, INC.

Secured leverage ratio under 'ratio liens' basket increased from 4.00:1.00 to 4.75:1.00.
Proceeds from data center sales must be used to repurchase or retire existing indebtedness at a discount; at least 50% must go to repurchasing its 6.500% Senior Secured Notes due 2032.
Data center sale proceeds cannot be used to increase available restricted payment capacity under the Indenture.
Cogent Group prohibited from transferring IRUs to unrestricted subsidiaries or non-guarantor restricted subsidiaries with limited exceptions.
Amendment approved by majority noteholders and effective June 15, 2026.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

COGENT COMMUNICATIONS HOLDINGS, INC. amended First Supplemental Indenture with Wilmington Trust, National Association valued at Amendment to Indenture dated June 17, 2025 to increase secured leverage ratio basket from 4.00:1.00 (effective 2026-06-15).

Action: amendment
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: Amendment to Indenture dated June 17, 2025 to increase secured leverage ratio basket from 4.00:1.00
Effective: 2026-06-15

Exact text from the filing

On June 15, 2026, Cogent Communications Group, LLC (“Cogent Group”) and Cogent Finance, Inc. (the “Co-Issuer” and, together with Cogent Group, the “Issuers”), two wholly owned subsidiaries of Cogent Communications Holdings, Inc. (the “Company”), entered into a First Supplemental Indenture (the “Supplemental Indenture”) with the Company, the other guarantors named therein and Wilmington Trust, National Association, as trustee and collateral agent (the “Trustee and Collateral Agent”), to the Indenture, dated as of June 17, 2025 (the “Indenture”), among the Issuers, the Company, the other guarantors named therein, the Trustee and Collateral Agent to effect certain amendments to the Indenture to: (i) amend the “Permitted Liens” definition therein to increase the secured leverage ratio under the “ratio liens” basket from 4.00:1.00 to 4.75:1.00; (ii) require the Company to contribute or otherwise provide to Cogent Group and/or one or more of its restricted subsidiaries the proceeds of certai

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Source: SEC EDGAR

accession 0001104659-26-074046

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