Teleflex signs $2.2B secured credit facilities

Teleflex Incorporated entered into a new secured Credit Agreement that refinances its prior facility and updates its long‑term borrowing structure.

Rhea-AI Filing Summary

Teleflex Incorporated entered into a new secured Credit Agreement that refinances its prior facility and updates its long‑term borrowing structure. The agreement includes a five‑year revolving credit facility of $1,000,000,000, a term A‑1 loan of $500,000,000 and a term A‑2 loan of $700,000,000.

The revolver and term A‑1 loans mature on May 26, 2031, while the term A‑2 loan matures on May 26, 2028. Loans bear interest at Term SOFR plus a margin of 1.125%–2.00% or at an alternate base rate plus 0.125%–1.00%, with higher rates on overdue amounts.

Obligations are guaranteed by substantially all material domestic subsidiaries and secured by liens on substantially all of their assets and specified equity interests. The agreement includes covenants, including a maximum total net leverage ratio of 4.50 to 1.00 and a minimum interest coverage ratio of 3.00 to 1.00, as well as customary default and acceleration provisions.

Insights

Corporate credit analyst

Teleflex refinances and extends large secured bank facilities with standard covenants.

The new Credit Agreement replaces Teleflex’s prior facility with a $1.0B revolver plus $1.2B in term loans, extending maturities to 2028 and 2031. Pricing is tied to Term SOFR or an alternate base rate, with margins set by leverage or ratings.

The structure is fully secured and guaranteed by material domestic subsidiaries, with pledges of key equity interests. Financial maintenance covenants, including a maximum total net leverage ratio of 4.50 to 1.00 and minimum interest coverage of 3.00 to 1.00, create clear ongoing requirements.

Overall this is a sizable but conventional syndicated bank package. Actual impact on liquidity and flexibility will depend on Teleflex’s future leverage and interest coverage relative to these thresholds and on how much of the $1.0B revolver the company draws over time.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revolving credit facility: $1,000,000,000 Term A-1 loan: $500,000,000 Term A-2 loan: $700,000,000 +5 more

8 metrics

Revolving credit facility $1,000,000,000 Five-year revolving credit facility under new Credit Agreement

Term A-1 loan $500,000,000 Term A-1 loan facility size

Term A-2 loan $700,000,000 Term A-2 loan facility size

Revolver and Term A-1 maturity May 26, 2031 Stated maturity date for revolving and A-1 facilities

Term A-2 maturity May 26, 2028 Stated maturity date for term A-2 facility

SOFR margin range 1.125%–2.00% Applicable margin over Term SOFR

Base rate margin range 0.125%–1.00% Applicable margin over alternate base rate

Max net leverage ratio 4.50 to 1.00 Financial covenant under Credit Agreement

Key Terms

revolving credit facility, Term SOFR, alternate base rate, total net leverage ratio, +2 more

6 terms

revolving credit facility financial

"The Company Credit Agreement provides for, among other things, a five-year revolving credit facility of $1,000,000,000"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

Term SOFR financial

"At the Company’s option, loans under the Company Credit Agreement will bear interest at a rate equal to Term SOFR plus an applicable margin"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

alternate base rate financial

"or at an alternate base rate, which is defined as the highest of (i) the “Prime Rate” in the U.S."

total net leverage ratio financial

"Subject to certain exceptions, the Company is required to maintain a maximum total net leverage ratio of 4.50 to 1.00."

Total net leverage ratio measures how much a company owes after using its cash, compared with the cash it generates in a year; it is usually calculated by subtracting cash from total debt and dividing that net debt by annual operating cash flow or earnings. Investors use it like a debt-to-income check for a household — a higher number means the company may struggle to cover obligations and is riskier, while a lower number suggests more cushion and financial flexibility.

interest coverage ratio financial

"The Company is further required to maintain a minimum interest coverage ratio of 3.00 to 1.00."

A measure of how easily a company can pay the interest on its debt, calculated by comparing the earnings it generates from operations to the interest it owes. It matters to investors because a higher ratio means the company can comfortably meet interest payments — like having several paychecks set aside to cover your rent — while a low ratio signals greater risk of missed payments or financial strain.

event of default financial

"If an event of default under the Company Credit Agreement occurs and is continuing, the commitments thereunder may be terminated"

An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What new credit facilities did Teleflex (TFX) obtain on May 26, 2026?

Teleflex entered a new Credit Agreement with a $1.0 billion revolving credit facility, a $500 million term A-1 loan, and a $700 million term A-2 loan. These facilities refinance its prior credit agreement and provide committed bank financing.

When do Teleflex’s new credit facilities under the 2026 Credit Agreement mature?

The revolving credit facility and term A-1 loan mature on May 26, 2031, providing long-dated bank funding. The term A-2 loan matures earlier, on May 26, 2028, creating a staggered debt maturity profile for the company.

How is interest determined on Teleflex’s new Credit Agreement?

Loans bear interest at Term SOFR plus 1.125%–2.00% or an alternate base rate plus 0.125%–1.00%, with exact margins linked to Teleflex’s total net leverage ratio or corporate family rating. Overdue loans accrue an additional 2.00% interest.

What collateral and guarantees support Teleflex’s new credit facilities?

Obligations are guaranteed by substantially all material domestic subsidiaries and secured by liens on substantially all assets of Teleflex and its guarantors. The package also includes pledges of 100% of certain domestic and 65% of specified foreign subsidiary equity interests.

What financial covenants apply to Teleflex under the new Credit Agreement?

Teleflex must maintain a maximum total net leverage ratio of 4.50 to 1.00 and a minimum interest coverage ratio of 3.00 to 1.00, subject to stated exceptions and thresholds. Breaching these covenants could trigger default remedies under the agreement.

What happens if Teleflex defaults under its new Credit Agreement?

If an event of default occurs and continues, lenders may terminate commitments, declare all outstanding principal and interest immediately due and payable, and the agent may enforce and foreclose on the pledged collateral securing the obligations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/27/2026 - 05:23 PM Learn about SEC filing dates

TELEFLEX INC false 0000096943 0000096943 2026-05-26 2026-05-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 26, 2026

Teleflex Incorporated

(Exact Name of Registrant as Specified in Charter)

Delaware		1-5353		23-1147939
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

550 E. Swedesford Rd, Suite 400 Wayne, PA		19087
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (610) 255-6800

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $1.00 per share		TFX		New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On May 26, 2026, Teleflex Incorporated (the “Company”) and certain of its subsidiaries entered into a new Credit Agreement (as amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the “Company Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., PNC Bank, National Association, HSBC Securities (USA) Inc., Wells Fargo Bank, National Association and Sumitomo Mitsui Banking Corporation, as co-syndication agents, the guarantors party thereto and the lenders party thereto, which effectuated the refinancing of the Company’s existing credit agreement evidenced in that certain Third Amended and Restated Credit Agreement, dated as of November 4, 2022 (as amended prior to the date hereof). The Company Credit Agreement provides for, among other things, a five-year revolving credit facility of $1,000,000,000, a term A-1 loan facility of $500,000,000 and a term A-2 loan facility of $700,000,000.

The obligations under the Company Credit Agreement are guaranteed (subject to certain exceptions and limitations) by substantially all of the material domestic subsidiaries of the Company. The obligations under the Company Credit Agreement are secured, subject to certain exceptions and limitations, by a lien on substantially all of the assets owned by the Company and each guarantor and by a pledge of 100% of the equity interests of all of the Company’s and each guarantor’s material domestic subsidiaries and 65% of the equity interests of certain material first-tier foreign subsidiaries of the Company and each guarantor. The maturity date of the revolving credit facility and the term A-1 loan facility under the Company Credit Agreement is May 26, 2031. The maturity date of the term A-2 loan facility under the Company Credit Agreement is May 26, 2028.

At the Company’s option, loans under the Company Credit Agreement will bear interest at a rate equal to Term SOFR plus an applicable margin ranging from 1.125% to 2.00% or at an alternate base rate, which is defined as the highest of (i) the “Prime Rate” in the U.S. last quoted by The Wall Street Journal, (ii) 0.50% above the greater of the federal funds rate and the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars and (iii) 1.00% above the Term SOFR Rate for a one month interest period, plus an applicable margin ranging from 0.125% to 1.00%, in each case subject to adjustments based on the Company’s total net leverage ratio or its corporate family rating. Overdue loans will bear interest at the rate otherwise applicable to such loans plus 2.00%.

The obligations to extend credit under the Company Credit Agreement are subject to customary conditions for transactions of this type.

The Company Credit Agreement contains customary representations and warranties and covenants that, in each case, subject to certain exceptions, qualifications and thresholds, (a) place limitations on the Company and its subsidiaries regarding the incurrence of additional indebtedness, additional liens, fundamental changes, dispositions of property, investments and acquisitions, dividends and other restricted payments, transactions with affiliates, restrictive agreements, changes in lines of business and swap agreements, and (b) require the Company and its subsidiaries to comply with sanction laws and other laws and agreements, to deliver financial information and certain other information and give notice of certain events, to maintain their existence and good standing, to pay their other obligations, to permit the administrative agent and the lenders to inspect their books and property, to use the proceeds of the Company Credit Agreement only for certain permitted purposes and to provide collateral in the future. Subject to certain exceptions, the Company is required to maintain a maximum total net leverage ratio of 4.50 to 1.00. The Company is further required to maintain a minimum interest coverage ratio of 3.00 to 1.00.

If an event of default under the Company Credit Agreement occurs and is continuing, the commitments thereunder may be terminated, the principal amount outstanding thereunder, together with all accrued unpaid interest and other amounts owed thereunder, may be declared immediately due and payable and the agent may enforce and foreclose on the collateral granted in connection with the Company Credit Agreement.

The description of the Company Credit Agreement is qualified in its entirety by the copy thereof, which is attached as Exhibit 10.1 hereto and incorporated herein 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 is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

10.1 Credit Agreement, dated May 26, 2026, among Teleflex Incorporated, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., PNC Bank, National Association, HSBC Securities (USA) Inc., Wells Fargo Bank, National Association and Sumitomo Mitsui Banking Corporation, as co-syndication agents, the guarantors party thereto and the lenders party thereto.

104 The Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL

* Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule to the Securities and Exchange Commission upon request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 27, 2026

TELEFLEX INCORPORATED
By:		/s/ Matthew Howald
Name:		Matthew Howald
Title:		Vice President and Treasurer

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 1.0 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 17.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.0 KB