On September 26, 2025, Coherent entered into Amendment No. 4, which replaced its existing revolving credit commitments with new senior secured revolving credit commitments and increased the total revolving credit facility to $700 million, and the company obtained new senior secured incremental term A loans in an aggregate principal amount of $1.25 billion.

1. 01

   On September 26, 2025, Coherent entered into Amendment No. 4, which replaced its existing revolving credit commitments with new senior secured revolving credit commitments and increased the total revolving credit facility to $700 million, and the company obtained new senior secured incremental term A loans in an aggregate principal amount of $1.25 billion.

2. 02

   Coherent said it used the proceeds of the 2025 Incremental Term A Loans to repay in full the outstanding principal amount of its existing term A loans, together with all accrued and unpaid interest and fees thereon, and to make a voluntary prepayment of a portion of its term B-2 loans, with remaining proceeds to be used to pay fees and expenses in connection with Amendment No. 4 and for working capital and general corporate purposes.

3. 03

   The company said the interest rate margin applicable to the 2025 Revolving Loans and the 2025 Incremental Term A Loans is initially 0.50% in the case of base rate loans and 1.50% in the case of term benchmark loans, and the unused fee rate applicable to the available unused commitments under the revolving facility is initially 0.20%. The term A loans amortize quarterly at the rate of 0.625% of the original principal amount for the first 4 full fiscal quarters and 1.25% of the original principal amount per quarter thereafter.

4. 04

   Pursuant to Amendment No. 5, Coherent replaced the entire aggregate principal amount of term B-2 loans outstanding with $1,080,000,000 of new term B-3 loans, with an interest rate margin of 0.75% in the case of base rate loans and 1.75% in the case of term benchmark loans. Amendment No. 4 reset the total net leverage ratio financial covenant to a maximum of 4.25 to 1.00, while the interest coverage ratio financial covenant of 2.50 to 1.00 remains unchanged.

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Original filing

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