---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-017862"
form_type: "8-K"
ticker: "PHIN"
cik: "0001968915"
company_name: "PHINIA INC."
filed_at: "2024-04-04T23:59:59+00:00"
generated_at: "2026-06-04T02:32:45.320244+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PHINIA issues $525M 6.75% senior secured notes due 2029, amends credit facility

## Summary
- Issued $525M 6.75% Senior Secured Notes due 2029 (increased from $425M); proceeds to repay term loan B and revolver.
- Interest payable semi-annually on April 15 and October 15, starting Oct 15, 2024; notes mature April 15, 2029.
- Credit agreement amendment: total net leverage ratio covenant loosened from 3.00x to 3.25x (step-up to 3.75x for acquisitions).
- Mandatory prepayment based on operating cash flow removed under amended credit facility.

## SEC filing metadata
- accession: 0001140361-24-017862
- form_type: 8-K
- ticker: PHIN
- cik: 0001968915
- company_name: PHINIA INC.
- filed_at: 2024-04-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/0001140361-24-017862-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/ef20025760_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-017862
- JSON: https://secwatch.observer/filing/0001140361-24-017862.json
- Plain text: https://secwatch.observer/filing/0001140361-24-017862.txt

## Key facts
- Debt Financings
  PHINIA INC. incurred senior notes of $525 million aggregate principal amount with U.S. Bank Trust Company, National Association at 6.75% per annum maturing April 15, 2029.
  - Instrument: senior notes
  - Principal: $525 million aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 6.75% per annum
  - Maturity: April 15, 2029
  - Event: incurrence
  source text: On April 4, 2024, PHINIA Inc. (the “Company”) issued $525 million aggregate principal amount of 6.75% Senior Secured Notes due 2029
  evidence_url: https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/0001140361-24-017862-index.htm
- Debt Financings
  PHINIA INC. amended credit facility.
  - Instrument: credit facility
  - Event: amendment
  source text: On April 4, 2024, the Company, as borrower, and certain subsidiaries of the Company, each acting as guarantors, entered into the Amendment No. 1 to Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/0001140361-24-017862-index.htm
- Material Agreements
  PHINIA INC. entered into Indenture with U.S. Bank Trust Company, National Association valued at $525 million aggregate principal amount of 6.75% Senior Secured Notes due 2029 (effective 2024-04-04).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $525 million aggregate principal amount of 6.75% Senior Secured Notes due 2029
  - Effective: 2024-04-04
  source text: On April 4, 2024, PHINIA Inc. (the “Company”) issued $525 million aggregate principal amount of 6.75% Senior Secured Notes due 2029 (the “notes”) pursuant to an indenture (the “Indenture”) among the Company, as issuer, certain subsidiaries of the Company named as guarantors, and U.S. Bank Trust Company, National Association, as trustee (in such capacity, the “Trustee”) and as collateral agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/0001140361-24-017862-index.htm
- Material Agreements
  PHINIA INC. amended Amendment No. 1 to Credit Agreement (effective 2024-04-04).
  - Action: amendment
  - Agreement: credit facility
  - Effective: 2024-04-04
  source text: On April 4, 2024, the Company, as borrower, and certain subsidiaries of the Company, each acting as guarantors, entered into the Amendment No. 1 to Credit Agreement (the “Credit Agreement Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1968915/000114036124017862/0001140361-24-017862-index.htm

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