Concentrix Prices $600 Million 6.50% Notes to Refinance $800 Million 2026 Debt
Concentrix has priced a $600M 6.50% senior notes offering due 2029 to redeem up to $800M of its 6.65% notes maturing August 2026, with closing expected February 24, 2026. Proceeds will cover the redemption and fees, extending maturity profile by three years and reducing near-term obligations.
1. Offering Details
Concentrix has issued $600 million of 6.500% senior notes due March 1, 2029. The notes carry a fixed coupon and will be issued under an existing shelf registration, providing immediate access to long-term financing.
2. Redemption Plan
Net proceeds, together with available funds, will be used to redeem or repay all or a portion of the company’s 6.650% senior notes due August 2, 2026, of which $800 million is outstanding, and to pay related fees and expenses.
3. Expected Closing and Managers
The offering is expected to close on February 24, 2026, subject to customary conditions. Joint book-running managers include BofA Securities, J.P. Morgan, BNP Paribas, Citigroup, HSBC, PNC, TD Securities, Truist, U.S. Bancorp and Wells Fargo.
4. Impact on Debt Profile
By replacing near-term maturities with longer-dated debt, Concentrix extends its debt maturity by three years, reduces refinancing risk and slightly lowers its average interest rate, improving financial flexibility.