Form 8-K · Current report
Cognizant 8-K, filed Oct 6, 2026
- Filed
- CIK
- 0001058290
- Accession no.
- 0001058290-26-000033
Summary
Cognizant Technology Solutions Corporation and subsidiary Cognizant Worldwide Limited entered a new credit agreement on October 5, 2026 providing a $550 million term loan facility and a $1.85 billion revolving credit facility, with JPMorgan Chase Bank, N.A. as administrative agent. Proceeds were used primarily to repay the company's existing credit facilities, which were terminated the same day.
Key points
- The facilities are unsecured and mature on October 3, 2031, with quarterly term loan installments of $6.875 million beginning one year after closing and the balance due at maturity.
- Proceeds from the term loan and about $1.0 billion drawn under the revolver were used primarily to repay Cognizant's existing term loan and revolving facilities, which were terminated on the closing date.
- The agreement includes a financial covenant requiring a maximum leverage ratio of 3.50:1.00, or 4.00:1.00 at the borrower's election for up to four quarters after certain material acquisitions.
- Borrowers may request up to $1.2 billion in additional commitments plus the amount of voluntary prepayments, subject to conditions.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01. Entry into a Material Definitive Agreement. On October 5, 2026 (the “Closing Date”), Cognizant Technology Solutions Corporation (the “Borrower” and together with its consolidated subsidiaries, the “Company”) and Cognizant Worldwide Limited (the “Designated Borrower” and, together with the Borrower, the “Borrowers”), a wholly-owned subsidiary of the Borrower, entered into a new credit agreement (the “Credit Agreement”) by and among the Borrower, the Designated Borrower, certain financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent, providing for a term loan facility in the amount of $550 million (the “Term Loan Facility”) and a revolving…
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.