secwatch.observer — SEC 8-K summary
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Issuer:     Concentrix Corp (CNXC)
CIK:        0001803599
Form:       8-K
Filed at:   2025-04-11T23:59:59+00:00
Accession:  0001803599-25-000111
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Concentrix amends credit facility: adds $1.5B delayed draw, extends maturities, refinances $750M term loan
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- New unsecured facilities: $750M 3-year term loan, $250M 3-year delayed draw, $500M 5-year delayed draw, and $1.1B revolver; $750M converted to Continued Term Loan maturing Dec 2026.
- Delayed draw proceeds (up to $750M) to repay €700M promissory note from Webhelp deal; must be drawn by Sep 30, 2025.
- Covenants: max leverage ratio 3.75x (4.25x post qualified acquisitions), min interest coverage 3.00x.
- Bank of America replaces JPMorgan as administrative agent under restated credit agreement.
- Maturities: New term & 3-year DD Sep 30, 2028; 5-year DD & revolver Apr 11, 2030 (revolver extendable).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803599/000180359925000111/0001803599-25-000111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803599/000180359925000111/cnxc-20250411.htm
  HTML page:      https://secwatch.observer/filing/0001803599-25-000111

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