COGNIZANT TECHNOLOGY SOLUTIONS CORP (CTSH) Form 8-K — Oct 6, 2026
Cognizant Technology Solutions entered into a new $2.4 billion credit agreement on October 5, 2026, comprising a $550 million term loan facility and a $1.85 billion revolving credit facility, with JPMorgan Chase Bank, N.A. as administrative agent. Proceeds of the term loan and an approximately $1.0 billion revolver draw were used primarily to repay the company's existing credit facilities, which were terminated at closing. The facilities are unsecured and mature on October 3, 2031.
Key figures
- Debt Amount
- 2400000000
- Interest Rate
- Term Benchmark + 0.875% (initial margin); ABR + 0%
- Maturity Date
- 2031-10-03
- Accordion increase
- up to $1.2 billion plus voluntary prepayments
- Max leverage ratio
- 3.50:1.00 (4.00:1.00 post-material-acquisition for up to four quarters)
- Term loan facility
- $550 million
- Quarterly amortization
- $6.875 million after first year
- Revolver drawn at closing
- approximately $1.0 billion
- Revolving credit facility
- $1.85 billion
AI analysis
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