Concentrix Corporation
02/24/2026 | Press release | Distributed by Public on 02/24/2026 16:07
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement.
On February 24, 2026, Concentrix Corporation ("Concentrix" or the "Company") issued and sold $600,000,000 aggregate principal amount of its 6.500% Senior Notes due 2029 (the "Notes"). The Notes were sold in a registered public offering pursuant to the Company's Registration Statement on Form S-3 (File No. 333-273277), which became effective upon filing, and a Prospectus Supplement dated February 12, 2026, to a Prospectus dated July 17, 2023.
The Company used the net proceeds from the sale of the Notes, together with other available funds, to redeem $600 million of its 6.650% Senior Notes due August 2, 2026, of which $800 million aggregate principal amount was outstanding immediately before giving effect to such redemption.
The Notes were issued pursuant to, and are governed by, an indenture, dated as of August 2, 2023 (the "Base Indenture"), between Concentrix and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), as amended and supplemented, including by a fourth supplemental indenture dated as of February 24, 2026 between Concentrix and the Trustee relating to the Notes (the "Fourth Supplemental Indenture," and the Base Indenture as so amended and supplemented, the "Indenture"). The Indenture contains customary covenants and restrictions, including covenants that limit Concentrix' and certain of its subsidiaries' ability to create or incur liens on shares of stock of certain subsidiaries or on principal properties, engage in sale/leaseback transactions or, with respect to Concentrix, consolidate or merge with, or sell or lease substantially all its assets to, another person. The Indenture also provides for customary events of default.
The Notes will accrue interest at a rate of 6.500% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2026, and will mature on March 1, 2029. The interest rate payable on the Notes will be subject to adjustment from time to time if any of Moody's, S&P or Fitch (in each case, as defined in the Indenture) (or, in each case, a substitute rating agency therefor), downgrades (or subsequently upgrades) the debt rating applicable to the Notes.
Concentrix may redeem the Notes at its option, in whole or in part, at any time and from time to time, prior to February 1, 2029 (the "Par Call Date"), at a redemption price equal to the greater of (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Indenture) plus 50 basis points, less (b) interest accrued on the Notes to the redemption date; and (2) 100% of the principal amount of the Notes to be redeemed; plus, in either case, accrued and unpaid interest thereon to, but not including, the redemption date. Concentrix may also redeem the Notes at its option, in whole or in part, at any time and from time to time, on or after the Par Call Date, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but not including, the redemption date.
The foregoing descriptions of the Base Indenture, the Fourth Supplemental Indenture and the Notes are summaries only and are qualified in their entirety by reference to the full text of such documents. The Base Indenture was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K filed on August 2, 2023 and is incorporated by reference as Exhibit 4.1 to this Current Report on Form 8-K and in this Item 1.01. The Fourth Supplemental Indenture and the form of the Note are filed as Exhibits 4.2 and 4.3, respectively, to this Current Report on Form 8-K and are incorporated in this Item 1.01 by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
This Current Report on Form 8-K does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
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