secwatch.observer — SEC 8-K summary
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Issuer:     HEXCEL CORP /DE/ (HXL)
CIK:        0000717605
Form:       8-K
Filed at:   2026-04-01T23:59:59+00:00
Accession:  0001140361-26-012536
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/0001140361-26-012536-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717605/000114036126012536/ef20069271_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-012536

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