Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Concentrix Corp amended credit facility of from up to $500 million to up to $600 million with PNC Bank, National Association at commercial paper rate plus a spread of 0.80% maturing April 24, 2026.
- Instrument
- credit facility
- Principal
- from up to $500 million to up to $600 million
- Counterparty
- PNC Bank, National Association
- Rate
- commercial paper rate plus a spread of 0.80%
- Maturity
- April 24, 2026
- Event
- amendment
Exact text from the filing
On April 25, 2024, Concentrix Corporation (the “Company”), as servicer, entered into an amendment (the “Amendment”) to its accounts receivable securitization facility (as amended, the “Securitization Facility”) by and among Concentrix Receivables, Inc., a subsidiary of the Company, as borrower, PNC Bank, National Association, as administrative agent, and the group agents and the lenders party thereto. The Amendment provides for, among other things, an (i) increase in the commitment of the lenders to provide available borrowings from up to $500 million to up to $600 million, (ii) an extension of the termination date of the Securitization Facility from July 5, 2024 to April 24, 2026, and (iii) an amendment to the interest rate margins
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Concentrix Corp amended Third Amendment to the Receivables Financing Agreement with Concentrix Receivables, Inc., PNC Bank, National Association valued at up to $600 million (effective 2024-04-25).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Concentrix Receivables, Inc., PNC Bank, National Association
- Value
- up to $600 million
- Effective
- 2024-04-25
Exact text from the filing
On April 25, 2024, Concentrix Corporation (the “Company”), as servicer, entered into an amendment (the “Amendment”) to its accounts receivable securitization facility (as amended, the “Securitization Facility”) by and among Concentrix Receivables, Inc., a subsidiary of the Company, as borrower, PNC Bank, National Association, as administrative agent, and the group agents and the lenders party thereto.
View on SEC.gov