---
schema_version: "secwatch.filing_event.v1"
accession: "0001681622-26-000035"
form_type: "8-K"
ticker: "VREX"
cik: "0001681622"
company_name: "Varex Imaging Corp"
filed_at: "2026-03-16T23:59:59+00:00"
generated_at: "2026-05-15T11:48:57.543893+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Varex closes $490M credit facility, redeems $368M 7.875% notes due 2027

## Summary
- New facility includes $350M term loan, $100M revolver, $40M delayed draw; matures March 13, 2031.
- Redeemed all $368M of 7.875% Senior Secured Notes due 2027; used $42M cash including $7M call premium.
- Borrowings at SOFR + 2.50% margin (3.65% fixed via swap); expected to reduce annualized interest by >$7M.
- Terminated existing $155M revolver; no outstanding borrowings at termination.
- CFO Maheshwari says refinancing strengthens balance sheet and improves cost of capital.

## SEC filing metadata
- accession: 0001681622-26-000035
- form_type: 8-K
- ticker: VREX
- cik: 0001681622
- company_name: Varex Imaging Corp
- filed_at: 2026-03-16T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681622/000168162226000035/0001681622-26-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681622/000168162226000035/vrex-20260313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001681622-26-000035
- JSON: https://secwatch.observer/filing/0001681622-26-000035.json
- Plain text: https://secwatch.observer/filing/0001681622-26-000035.txt

## Source-grounded claims
- claim_id: 70f6e982d4d99395314ce7f94923fd8c2dc02c6d
  claim: Varex Imaging Corp incurred credit facility of $350,000,000 with Zions Bancorporation, N.A. dba Zions First National Bank at SOFR plus a margin or an alternative base rate plus a margin maturing March 13, 2031.
  evidence_excerpt: and UMB Bank, N.A. as joint lead arrangers (the “Credit Agreement”). The Credit Agreement provides for (i) a secured term loan facility in an aggregate principal amount of $350,000,000, (ii) a secured revolving credit facility in an aggregate principal amount of $100,000,000, which includes a $35,000,000 letter of credit sub‐facility and a $20,000,000 swingline
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162226000035/0001681622-26-000035-index.htm
- claim_id: 13161121a09629d78e8c337fae0ff3e23cd4c140
  claim: Varex Imaging Corp entered into Credit and Guaranty Agreement with Zions Bancorporation, N.A. dba Zions First National Bank valued at Secured term loan facility of $350,000,000; secured revolving credit facility of $100,000,000 with $ (effective 2026-03-13).
  evidence_excerpt: On March 13, 2026, Varex Imaging Corporation (the “Company”) and certain of its subsidiaries entered into a Credit and Guaranty Agreement with, among others, the lenders and issuing banks from time to time party thereto, Zions Bancorporation, N.A. dba Zions First National Bank, as administrative agent and collateral agent, Citizens Banks, National Association and Bank of Montreal as co-documentation agents, Zions Bancorporation, N.A. dba Zions First National Bank, as lead arranger and sole bookrunner, and U.S. Bank National Association, Capital One, N.A., Fifth Third Bank, National Association and UMB Bank, N.A. as joint lead arrangers (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162226000035/0001681622-26-000035-index.htm
- claim_id: a9af7a3b3a10b9de1ce6033b2eeef4714797623f
  claim: Varex Imaging Corp terminated Revolving Credit and Guaranty Agreement with Zions Bancorporation, N.A. dba Zions First National Bank valued at Terminated senior secured revolving credit facility of up to $155,000,000 (effective 2026-03-13).
  evidence_excerpt: Substantially concurrently with the closing of the Credit Agreement, on March 13, 2026, the Company terminated its Revolving Credit and Guaranty Agreement, dated as of March 26, 2024, by and among the Company, Varex Imaging West, LLC, Varex Imaging Deutschland AG, as borrowers, the guarantors party thereto, Zions Bancorporation, N.A. dba Zions First National Bank, as administrative and collateral agent, and the lenders party thereto (as amended, the “Terminated Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162226000035/0001681622-26-000035-index.htm
- claim_id: f4f102edb71ae693b277c1dfbcaa6d5a839cceb9
  claim: Varex Imaging Corp terminated 2027 Notes Indenture with Computershare Trust Company, N.A. valued at Satisfied and discharged $368,000,000 aggregate principal amount of outstanding 7.875% Senior Secure (effective 2026-03-13).
  evidence_excerpt: The 2027 Notes were issued pursuant to a Senior Secured Notes Indenture, dated as of September 30, 2020, among the Company, as issuer, the guarantors party thereto, Computershare Trust Company, N.A. (as successor to Wells Fargo Bank, National Association), as trustee and collateral agent (the “Trustee”) (as amended and supplemented, the “2027 Notes Indenture”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162226000035/0001681622-26-000035-index.htm

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