Loan & DebtAug 4, 2026, 04:15 PM
Celanese Amends Credit Agreement, Adjusts Leverage Covenant
AI Summary
Celanese US Holdings LLC, a wholly-owned subsidiary of Celanese Corporation, entered into a First Amendment to its Revolving Credit Agreement. The amendment increases the consolidated net leverage ratio financial covenant level to 5.50:1.00 from the fiscal quarter ending March 31, 2027, with modified step-down levels thereafter. Additionally, the combined negative covenant baskets for incurring debt of foreign and Chinese subsidiaries were raised from $900 million to $1.05 billion, providing increased financial flexibility.
Key Highlights
- Celanese US Holdings LLC amended its Revolving Credit Agreement on July 31, 2026.
- Consolidated net leverage ratio covenant increased to 5.50:1.00 from March 31, 2027.
- The covenant includes modified step-down levels for subsequent fiscal quarters.
- Combined negative covenant baskets for subsidiary debt increased from $900 million to $1.05 billion.
- This applies to debt for foreign subsidiary acquisitions and Chinese subsidiary corporate purposes.
- Other modifications include definitions for Applicable Rate, Covenant Relief Period, and Debt Rating.
Price Impact
More from CE