Loan & DebtMay 14, 2026, 08:02 AM
Cabot Secures New $1.3B Revolving Credit Agreement
AI Summary
Cabot Corporation entered into a new $1.3 billion unsecured revolving credit agreement, maturing on May 12, 2031, for general corporate purposes. This new facility replaces its previous $1 billion and 300 million revolving credit agreements, both of which were scheduled to mature in August 2027. The new agreement includes a quarterly leverage test and allows for multi-currency borrowings.
Key Highlights
- Cabot secured a new $1.3 billion unsecured revolving credit agreement.
- The new credit facility matures on May 12, 2031, a 5-year term.
- It replaces the prior $1 billion and 300 million revolving credit agreements.
- Interest margin ranges from 0.68% to 1.20% based on credit ratings.
- Quarterly leverage test: net debt not to exceed 3.75x consolidated EBITDA.
- Leverage ratio can increase to 4.25x post-material acquisition.
- Funds are for general corporate purposes and multi-currency borrowings.
Price Impact
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