Accendra completes $1B+ debt restructuring with new 9% and 9.75% secured notes

Filed June 15, 2026 · Period ending June 9, 2026 · ~1 min read

Key Changes

• high

  Issued two new series of secured notes: First Lien at 9.000% and Second Lien at 9.750%, both paying semi-annually starting December 2026. Notes secured by substantially all company assets in exchange for existing 2029 notes plus new money.

  Item 1.01 verify on EDGAR →
• high

  Established new $300M revolving credit facility due 2030, replacing prior facility. Must maintain leverage ratio below 5.50x through 2027, tightening to 4.50x thereafter, and interest coverage above 2.00x. Covenant violations could trigger default.

  Item 1.01 verify on EDGAR →
• high

  Management warned that failure to complete the exchange offers could materially adversely affect the company's financial condition, indicating the restructuring is critical to financial health.

  Item 8.01 verify on EDGAR →