---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-012536"
form_type: "8-K"
ticker: "HXL"
cik: "0000717605"
company_name: "HEXCEL CORP /DE/"
filed_at: "2026-04-01T23:59:59+00:00"
generated_at: "2026-05-15T08:03:52.609875+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Hexcel enters new $750M credit facility, borrows $300M to refinance existing debt

## Summary
- New $750M revolver matures March 31, 2031; $300M drawn to repay and terminate existing $500M facility (was set to expire April 2028).
- Interest rate: SOFR + 1.125% initially (base rate +0.125%); can fluctuate based on debt rating or leverage ratio.
- Financial covenants: minimum interest coverage ratio and maximum consolidated net leverage ratio; customary restrictions on liens and asset sales.
- Facility includes $50M letter of credit sublimit and $500M accordion feature for incremental loans.
- No early termination penalties incurred on the old facility.

## SEC filing metadata
- accession: 0001140361-26-012536
- form_type: 8-K
- ticker: HXL
- cik: 0000717605
- company_name: HEXCEL CORP /DE/
- filed_at: 2026-04-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/0001140361-26-012536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/ef20069271_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-012536
- JSON: https://secwatch.observer/filing/0001140361-26-012536.json
- Plain text: https://secwatch.observer/filing/0001140361-26-012536.txt

## Source-grounded claims
- claim_id: 2fcbd05a19b2c9016642decf6a0bb913c341578b
  claim: HEXCEL CORP /DE/ incurred revolving credit of $750 million revolving credit facility; initially borrowed $300 million with Bank of America, N.A. as agent, and the lenders party thereto at SOFR rate borrowings: Adjusted Term SOFR plus Applicable Margin (initially 1.125 maturing March 31, 2031.
  evidence_excerpt: On March 31, 2026, Hexcel Corporation (“Hexcel”) entered into a new credit agreement (the “Credit Agreement”) governing its $750 million revolving credit facility (the “Revolver”), which matures on March 31, 2031.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/0001140361-26-012536-index.htm
- claim_id: bed9ddb54a5b3c75ad38cc7329890fdc34248804
  claim: HEXCEL CORP /DE/ terminated Terminated Credit Facility with Citizens Bank, N.A., as administrative agent for the lenders, and the other parties party thereto (effective 2026-03-31).
  evidence_excerpt: the proceeds of which were used to repay all amounts, and terminate all commitments, outstanding under the existing credit agreement by and among Hexcel, as borrower, the lenders party thereto, Citizens Bank, N.A., as administrative agent for the lenders, and the other parties party thereto (the “Terminated Credit Facility”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/0001140361-26-012536-index.htm
- claim_id: c958cf9f947cf10579c36677fa68e7f44e8f2f93
  claim: HEXCEL CORP /DE/ entered into Credit Agreement with Bank of America, N.A., as agent for the lenders, and the other parties party thereto valued at $750 million (effective 2026-03-31).
  evidence_excerpt: On March 31, 2026, Hexcel Corporation (“Hexcel”) entered into a new credit agreement (the “Credit Agreement”) governing its $750 million revolving credit facility (the “Revolver”), which matures on March 31, 2031.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/0001140361-26-012536-index.htm

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