Coherent refinances debt: $700M revolver, $1.25B term A, $1.08B term B-3 loans

COHERENT CORP.

• Amendment No. 4 adds $700M revolving facility and $1.25B term A loans; proceeds repay existing term A loans and partially prepay term B-2 loans.
• Amendment No. 5 replaces remaining term B-2 loans with $1.08B term B-3 loans; interest margin 1.75% (term benchmark) with 0.50% floor.
• New revolver and term A loans mature September 2030; term B-3 loans mature unchanged from prior term B-2 maturity.
• Financial covenant reset: maximum total net leverage ratio 4.25x (temporary step-up to 4.75x post-acquisition); interest coverage minimum 2.50x.
• Use of proceeds: repay existing term A loans, voluntary prepay term B-2 loans; remainder for working capital and general corporate purposes.