secwatch.observer — SEC 8-K summary
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Issuer:     Concentrix Corp (CNXC)
CIK:        0001803599
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001803599-23-000107
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Concentrix amends credit facility to $3.187B for Webhelp combination financing
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- Restated Credit Agreement: $1.0425B revolving facility and $2.1447B term loan facility (incl. $294.7M delayed draw).
- Maturity December 27, 2026; SOFR loans bear interest at SOFR + 1.125%-2.00% margin plus 0.10% credit spread adjustment.
- Financial covenants: leverage ratio ≤ 3.75:1 (4.25:1 post-qualified acquisitions) and interest coverage ratio ≥ 3.00:1.
- Bridge commitments reduced: $1.85B Term Loan Amendment Bridge and $1.0B Revolving Amendment Bridge to zero; $2.44B Term Loan Acquisition Bridge reduced by ~$294.7M.
- Proceeds from delayed draw term loans will finance a portion of the Webhelp Combination and related fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803599/000180359923000107/0001803599-23-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803599/000180359923000107/cnxc-20230421.htm
  HTML page:      https://secwatch.observer/filing/0001803599-23-000107

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