secwatch.observer — SEC 8-K summary
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Issuer:     COHERENT CORP. (COHR)
CIK:        0000820318
Form:       8-K
Filed at:   2025-09-26T23:59:59+00:00
Accession:  0001193125-25-220656
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/820318/000119312525220656/0001193125-25-220656-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/820318/000119312525220656/d854664d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-220656

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