Global Finance News
27 Sep 2025, 15:59
Coherent Secures $1.25B Term Loan, Expands Credit Facility to $700M
Coherent Corp. (NYSE: COHR) has refinanced and expanded its credit facilities through two amendments to its existing Credit Agreement with JPMorgan Chase and other lenders.
Under Amendment No. 4, the company replaced its prior revolving credit commitments with a new $700 million senior secured revolving credit facility and secured $1.25 billion in new incremental Term A loans. Proceeds were used to repay existing Term A loans, prepay part of its Term B-2 loans, and fund corporate needs. The new Term A loans mature in 2030, carry leverage-linked interest rates, and feature quarterly amortization.
Amendment No. 5 refinanced $1.08 billion of Term B-2 loans into new Term B-3 loans with reduced interest margins, while keeping maturity dates unchanged. Together, the amendments extend maturities, lower borrowing costs, and strengthen liquidity flexibility, with covenant adjustments allowing leverage up to 4.25x, temporarily higher after acquisitions.
Coherent Corp. (NYSE: COHR) has refinanced and expanded its credit facilities through two amendments to its existing Credit Agreement with JPMorgan Chase and other lenders.
Under Amendment No. 4, the company replaced its prior revolving credit commitments with a new $700 million senior secured revolving credit facility and secured $1.25 billion in new incremental Term A loans. Proceeds were used to repay existing Term A loans, prepay part of its Term B-2 loans, and fund corporate needs. The new Term A loans mature in 2030, carry leverage-linked interest rates, and feature quarterly amortization.
Amendment No. 5 refinanced $1.08 billion of Term B-2 loans into new Term B-3 loans with reduced interest margins, while keeping maturity dates unchanged. Together, the amendments extend maturities, lower borrowing costs, and strengthen liquidity flexibility, with covenant adjustments allowing leverage up to 4.25x, temporarily higher after acquisitions.
