secwatch.observer — SEC 8-K summary
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Issuer:     COHERENT CORP. (COHR)
CIK:        0000820318
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001193125-24-085009
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coherent refinances $2.44B term loans, reduces interest rate margin by 25 bps
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- Refinanced $2.436B aggregate principal of Term B loans with new Term B-1 loans at lower interest rates.
- Interest rate margin reduced to 1.50% (base rate) and 2.50% (term benchmark) from 1.75% and 2.75% respectively.
- Term benchmark floor set at 0.50%; credit spread adjustment eliminated.
- Maturity unchanged; proceeds used to repay existing Term B loans.
- Also obtained lender consent for planned internal corporate reorganizations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/820318/000119312524085009/0001193125-24-085009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/820318/000119312524085009/d794721d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-085009

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