8-K - Hexcel Corporation | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Hexcel Corporation entered a new $750 million revolving credit facility maturing 2031, borrowed $300 million to repay and terminate its prior credit facility expiring 2028 with no penalties.

Key Takeaways

1Entered $750M revolver on March 31, 2026, maturing March 31, 2031, with Bank of America as agent.

2Borrowed $300M to fully repay and terminate prior credit facility expiring April 25, 2028, incurring no early termination penalties.

3Initial interest: SOFR + 1.125% or base + 0.125%; margins adjust based on debt rating or leverage ratio.

4Up to $50M available for letters of credit; option to expand by $500M aggregate.

5Contains customary covenants restricting subsidiary debt, liens, asset sales, plus interest coverage and net leverage ratios.

Current Report Details

Event Type

Material Agreement

Financing

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. | Entry into a Material Definitive Agreement. | |---|---| On March 31, 2026, Hexcel Corporation (“Hexcel”) entered into a new credit agreement (the “Credit Ag

Material Agreement

$750.0M$300.0M$50.0M$500.0M

Source Document

1.02

. | Termination of a Material Definitive Agreement. | |---|---| The information with respect to the Terminated Credit Facility set forth in Item 1.01 of this Cu

Material Agreement

Source Document

2.03

. | Creation of a Direct Financial Obligation . | |---|---| The information with respect to the Credit Agreement set forth in Item 1.01 of this Current Report o

Financing

9.01

| Financial Statements and Exhibits. | |---|---| | | (d) | Exhibits to this Form 8-K | |---|---|---| | Exhibit No. | | Description | |---|---|---| | 10.1 | | Cr

Exhibits Only

Transaction Details

Material Agreement

Agreement: Credit Agreement
Parties: Hexcel Corporation (borrower), lenders party thereto, Bank of America, N.A. (agent), other parties

•$750 million revolving credit facility maturing March 31, 2031
•Borrowed $300 million to repay Terminated Credit Facility and pay fees/expenses
•Interest at Adjusted Term SOFR + Applicable Margin (initially 1.125%) or base rate + Applicable Margin (initially 0.125%)
•Applicable Margin fluctuates based on public debt rating or consolidated leverage ratio
•Up to $50 million for letters of credit
•Ability to add term loans or increase revolver up to $500 million aggregate
•Customary covenants on subsidiary debt, liens, asset sales; financial covenants for interest coverage and net leverage ratios

Debt / Financing

Instrument: Revolving Credit Facility
Principal: 750000000
Rate: SOFR + 1.125% (initial) or base + 0.125% (initial); adjustable
Maturity: 2031-03-31
Use of Proceeds: Repay Terminated Credit Facility, pay fees and expenses; available for general corporate purposes including acquisitions, investments, repayments

Exhibits (2)

10.1

EXHIBIT 10.1

8-K