Financing ·
Cognizant signs $550M term loan and $1.85B revolver to refinance existing debt
CTSHCognizant Technology Solutions Corp
On October 5, 2026, Cognizant Technology Solutions Corporation entered into a new credit agreement providing for a $550 million term loan facility and a $1.85 billion revolving credit facility. The company utilized proceeds from the term loan to repay its existing terminated term loan and borrowed approximately $1.0 billion under the revolver to refinance its previous revolving debt. The unsecured facilities mature on October 3, 2031, with quarterly principal payments of $6.875 million starting after the first year. The agreement includes a maximum leverage ratio covenant of 3.50:1.00 and allows for potential increases up to $1.2 billion. Cognizant Technology Solutions Corporation provides information technology services and business process outsourcing solutions globally.