Coherent finalizes $2.44 billion term loan at par issue price

By Sara Rosenberg

New York, March 28 – Coherent Corp. firmed the issue price on its $2.443 billion term loan due 2029 at par, the tight end of the 99.75 to par talk, according to a market source.

Pricing on the term loan remained at SOFR plus 250 basis points with a 0.5% floor.

The term loan still has 101 soft call protection for six months and no CSA.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used to reprice an existing term loan down from SOFR+CSA plus 275 bps. Current CSA is ARCC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Coherent is a Saxonburg, Pa.-based provider of optical communications components and subsystems.

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