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STOCK TITAN

[8-K] Celanese Corporation Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Celanese Corporation entered into a five-year unsecured Revolving Credit Agreement providing a $1.75 billion facility with a $250 million sublimit for letters of credit, replacing its prior revolver. The facility is available in U.S. dollars and certain other currencies and is guaranteed by the company, Celanese US Holdings LLC and certain domestic subsidiaries.

Borrowings accrue interest based on Daily Simple SOFR, Term SOFR or a customary base rate plus a margin of 1.00%�2.00% (or 0.00%�1.00% for U.S. dollar base rate borrowings), with undrawn amounts subject to a commitment fee of 0.09%�0.35%, each range tied to the company’s senior unsecured debt ratings. The agreement includes customary covenants—maintenance of a leverage ratio and a fixed charge coverage ratio—limits on dividends until a target ratio is met, and customary default provisions. Separately, Celanese US agreed to a Sixth Amendment to its Term Loan Credit Agreement adding a minimum consolidated fixed charge coverage ratio and similar dividend limitations. Full terms are in Exhibits 10.1 and 10.2.

Celanese Corporation ha stipulato un accordo di credito revolving non garantito della durata di cinque anni che prevede una linea di credito di $1.75 billion con un sublimite di $250 million per lettere di credito, in sostituzione del precedente revolver. La facilità è disponibile in dollari statunitensi e in alcune altre valute ed è garantita dalla società, da Celanese US Holdings LLC e da determinate controllate nazionali.

I prestiti maturano interessi calcolati in base al Daily Simple SOFR, al Term SOFR o a un tasso base consueto maggiorato di un margine di 1.00%�2.00% (o 0.00%�1.00% per i prestiti in dollari calcolati sul tasso base); gli importi non utilizzati sono soggetti a una commissione di impegno del 0.09%�0.35%. Ogni intervallo è legato alle valutazioni del debito senior non garantito della società. L'accordo incorpora covenant abituali � il mantenimento di un rapporto di leverage e di un rapporto di copertura delle spese fisse � limiti sui dividendi fino al raggiungimento di un rapporto target e disposizioni standard in caso di inadempimento. Separatamente, Celanese US ha accettato il sesto emendamento al suo accordo di credito a termine, che introduce un rapporto minimo consolidato di copertura delle spese fisse e limitazioni analoghe sui dividendi. I termini completi sono riportati negli Exhibit 10.1 e 10.2.

Celanese Corporation celebró un acuerdo de crédito revolvente no garantizado a cinco años que establece una línea de $1.75 billion con un sublímite de $250 million para cartas de crédito, en reemplazo de su revolver anterior. La facilidad está disponible en dólares estadounidenses y en determinadas otras monedas y está garantizada por la compañía, por Celanese US Holdings LLC y por ciertas filiales nacionales.

Los préstamos devengan intereses calculados según el Daily Simple SOFR, el Term SOFR o una tasa base habitual más un margen de 1.00%�2.00% (o 0.00%�1.00% para préstamos en dólares calculados sobre la tasa base); los importes no dispuestos están sujetos a una comisión de compromiso del 0.09%�0.35%. Cada intervalo está vinculado a las calificaciones de la deuda sénior no garantizada de la compañía. El acuerdo incluye convenios habituales � mantenimiento de una ratio de apalancamiento y de una ratio de cobertura de cargos fijos � límites sobre dividendos hasta que se alcance una ratio objetivo y disposiciones estándar en caso de incumplimiento. Por separado, Celanese US acordó la sexta enmienda a su Term Loan Credit Agreement, que añade una ratio mínima consolidada de cobertura de cargos fijos y limitaciones similares sobre dividendos. Los términos completos figuran en los Exhibits 10.1 y 10.2.

Celanese Corporationì€(ëŠ�) 5ë…� 만기ì� 무담ë³� 리볼ë¹� 신용계약ì� 체결하여 $1.75 billion 규모ì� 신용한ë„와 신용장용 $250 millionì� 하위한ë„ë¥� 제공하며 기존 리볼버를 대체했습니ë‹�. ì� ì‹œì„¤ì€ ë¯� 달러 ë°� ì¼ë¶€ 기타 통화ë¡� ì´ìš© 가능하ë©� 회사, Celanese US Holdings LLC ë°� ì¼ë¶€ êµ­ë‚´ ìžíšŒì‚¬ê°€ ë³´ì¦í•©ë‹ˆë‹�.

ì°¨ìž…ê¸ˆì€ Daily Simple SOFR, Term SOFR ë˜ëŠ” 통ìƒì ì¸ 기준금리ì—� 마진ì� ë”한 ë°©ì‹ìœ¼ë¡œ ì´ìžê°€ 부과ë˜ë©�, 마진 범위ëŠ� 1.00%â€�2.00%(ë¯� 달러 기준금리 차입ì� 경우 0.00%â€�1.00%)입니ë‹�. 미사ìš� 잔액ì—는 0.09%â€�0.35%ì� 약정 수수료가 ì ìš©ë˜ë©°, ê°� 범위ëŠ� 회사ì� 선순ìœ� 무담ë³� ë¶€ì±� 등급ì—� ì—°ë™ë©ë‹ˆë‹�. 해당 계약ì—는 레버리지 비율 ë°� ê³ ì •ë¹� 커버리지 비율ì� 유지 ë“� 통ìƒì ì¸ covenant, 목표 비율 달성 전까지ì� 배당 제한 ë°� ì¼ë°˜ì ì¸ ë””í´íŠ� ì¡°í•­ì� í¬í•¨ë˜ì–´ 있습니다. 별ë„ë¡� Celanese USëŠ� ì—°ê²° ê³ ì •ë¹� 커버리지 비율ì� 최저 기준ê³� 유사í•� 배당 제한ì� 추가하는 ì �6ì°� 수정ì•�(Sixth Amendment)ì—� í•©ì˜í–ˆìŠµë‹ˆë‹¤. ì „ì²´ ì¡°ê±´ì€ ì²¨ë¶€ë¬¸ì„œ(Exhibits) 10.1 ë°� 10.2ì—� 기재ë˜ì–´ 있습니다.

Celanese Corporation a conclu un contrat de crédit renouvelable non garanti d'une durée de cinq ans, offrant une facilité de $1.75 billion avec un sous‑plafond de $250 million pour les lettres de crédit, en remplacement de son revolver précédent. La facilité est disponible en dollars américains et dans certaines autres devises et est garantie par la société, par Celanese US Holdings LLC et par certaines filiales nationales.

Les emprunts portent intérêt sur la base du Daily Simple SOFR, du Term SOFR ou d'un taux de base usuel majoré d'une marge de 1.00%�2.00% (ou 0.00%�1.00% pour les emprunts en dollars calculés au taux de base) ; les montants non utilisés sont assujettis à une commission d'engagement de 0.09%�0.35%. Chaque fourchette est liée aux notations de la dette senior non garantie de la société. L'accord comprend des covenants usuels � maintien d'un ratio d'endettement et d'un ratio de couverture des charges fixes � des limites aux dividendes jusqu'à l'atteinte d'un ratio cible et des dispositions habituelles en cas de défaut. Par ailleurs, Celanese US a accepté un sixième avenant à son Term Loan Credit Agreement ajoutant un ratio consolidé minimum de couverture des charges fixes et des limitations similaires sur les dividendes. Les conditions complètes figurent dans les Annexes (Exhibits) 10.1 et 10.2.

Celanese Corporation hat eine unbesicherte revolvierende Kreditvereinbarung über fünf Jahre abgeschlossen, die eine Fazilität von $1.75 billion mit einem $250 million Sublimit für Akkreditive vorsieht und ihren vorherigen Revolver ersetzt. Die Fazilität ist in US-Dollar und in bestimmten anderen Währungen verfügbar und wird von der Gesellschaft, Celanese US Holdings LLC und bestimmten inländischen Tochtergesellschaften garantiert.

Die Aufnahme von Darlehen verzinst sich auf Basis des Daily Simple SOFR, des Term SOFR oder eines üblichen Basiszinssatzes zuzüglich einer Marge von 1.00%�2.00% (oder 0.00%�1.00% bei US-Dollar-Finanzierungen auf Basis des Basiszinssatzes); nicht in Anspruch genommene Beträge unterliegen einer Commitment-Gebühr von 0.09%�0.35%. Jede Spannbreite ist an die Ratings der ungesicherten vorrangigen Verbindlichkeiten des Unternehmens gebunden. Die Vereinbarung enthält übliche Covenants � die Aufrechterhaltung einer Verschuldungsquote und einer Kennzahl zur Deckung fester Aufwendungen � Beschränkungen für Dividendenausschüttungen bis zum Erreichen einer Zielkennzahl sowie übliche Ereignis‑von‑Verzug‑Bestimmungen. Separat hat Celanese US einer sechsten Änderung ihres Term Loan Credit Agreement zugestimmt, die eine Mindest‑konsolidierte Kennzahl zur Deckung fester Aufwendungen sowie ähnliche Dividendeneinschränkungen aufnimmt. Die vollständigen Bedingungen sind in den Exhibits 10.1 und 10.2 aufgeführt.

Positive
  • $1.75 billion five-year unsecured revolving credit facility enhances near-term liquidity
  • $250 million sublimit for letters of credit supports trade and contingent obligations
  • Interest pricing tied to SOFR or base rate with a clear margin grid linked to credit ratings
  • Replaces prior facility, consolidating bank relationships with Bank of America as administrative agent
Negative
  • New covenants require maintenance of a leverage ratio and a fixed charge coverage ratio, which may limit financial flexibility
  • Dividend increases are restricted until a specified target consolidated leverage ratio is met
  • Borrowing costs and commitment fees are rating-sensitive, increasing expense if senior unsecured ratings decline
  • Events of default (payment or covenant defaults) could accelerate obligations under the facility

Insights

TL;DR: Secures multi-year liquidity at market terms; covenant package ties cost and flexibility to credit ratings.

The new five-year, $1.75 billion unsecured revolver materially refreshes Celanese's short-to-medium term liquidity profile and replaces the prior facility. Pricing tied to Daily Simple SOFR/Term SOFR or base rate plus a margin of 1.00%�2.00% (0.00%�1.00% for base-rate) is consistent with current syndicated market terms for investment-grade corporates, while the 0.09%�0.35% commitment fee band preserves commitment economics linked to the company's ratings. The lien and covenant structure—leverage and fixed charge coverage ratios plus dividend limits—reduces shareholder payout flexibility but protects lenders and should help preserve borrowing capacity under predictable operating scenarios.

TL;DR: Facility enhances liquidity and currency flexibility but introduces rating-sensitive economics and dividend constraints.

The revolver's multi-currency availability and $250 million LC sublimit provide practical operational flexibility for working capital and trade support. Having Bank of America as administrative agent and multiple lender relationships supports syndicated bank access. However, the rating-linked margin and fees mean funding costs will rise if ratings weaken. The Sixth Amendment to the Term Loan adds a minimum fixed charge coverage ratio and further restricts dividend increases until leverage targets are met, which constrains capital return planning until metrics improve.

Celanese Corporation ha stipulato un accordo di credito revolving non garantito della durata di cinque anni che prevede una linea di credito di $1.75 billion con un sublimite di $250 million per lettere di credito, in sostituzione del precedente revolver. La facilità è disponibile in dollari statunitensi e in alcune altre valute ed è garantita dalla società, da Celanese US Holdings LLC e da determinate controllate nazionali.

I prestiti maturano interessi calcolati in base al Daily Simple SOFR, al Term SOFR o a un tasso base consueto maggiorato di un margine di 1.00%�2.00% (o 0.00%�1.00% per i prestiti in dollari calcolati sul tasso base); gli importi non utilizzati sono soggetti a una commissione di impegno del 0.09%�0.35%. Ogni intervallo è legato alle valutazioni del debito senior non garantito della società. L'accordo incorpora covenant abituali � il mantenimento di un rapporto di leverage e di un rapporto di copertura delle spese fisse � limiti sui dividendi fino al raggiungimento di un rapporto target e disposizioni standard in caso di inadempimento. Separatamente, Celanese US ha accettato il sesto emendamento al suo accordo di credito a termine, che introduce un rapporto minimo consolidato di copertura delle spese fisse e limitazioni analoghe sui dividendi. I termini completi sono riportati negli Exhibit 10.1 e 10.2.

Celanese Corporation celebró un acuerdo de crédito revolvente no garantizado a cinco años que establece una línea de $1.75 billion con un sublímite de $250 million para cartas de crédito, en reemplazo de su revolver anterior. La facilidad está disponible en dólares estadounidenses y en determinadas otras monedas y está garantizada por la compañía, por Celanese US Holdings LLC y por ciertas filiales nacionales.

Los préstamos devengan intereses calculados según el Daily Simple SOFR, el Term SOFR o una tasa base habitual más un margen de 1.00%�2.00% (o 0.00%�1.00% para préstamos en dólares calculados sobre la tasa base); los importes no dispuestos están sujetos a una comisión de compromiso del 0.09%�0.35%. Cada intervalo está vinculado a las calificaciones de la deuda sénior no garantizada de la compañía. El acuerdo incluye convenios habituales � mantenimiento de una ratio de apalancamiento y de una ratio de cobertura de cargos fijos � límites sobre dividendos hasta que se alcance una ratio objetivo y disposiciones estándar en caso de incumplimiento. Por separado, Celanese US acordó la sexta enmienda a su Term Loan Credit Agreement, que añade una ratio mínima consolidada de cobertura de cargos fijos y limitaciones similares sobre dividendos. Los términos completos figuran en los Exhibits 10.1 y 10.2.

Celanese Corporationì€(ëŠ�) 5ë…� 만기ì� 무담ë³� 리볼ë¹� 신용계약ì� 체결하여 $1.75 billion 규모ì� 신용한ë„와 신용장용 $250 millionì� 하위한ë„ë¥� 제공하며 기존 리볼버를 대체했습니ë‹�. ì� ì‹œì„¤ì€ ë¯� 달러 ë°� ì¼ë¶€ 기타 통화ë¡� ì´ìš© 가능하ë©� 회사, Celanese US Holdings LLC ë°� ì¼ë¶€ êµ­ë‚´ ìžíšŒì‚¬ê°€ ë³´ì¦í•©ë‹ˆë‹�.

ì°¨ìž…ê¸ˆì€ Daily Simple SOFR, Term SOFR ë˜ëŠ” 통ìƒì ì¸ 기준금리ì—� 마진ì� ë”한 ë°©ì‹ìœ¼ë¡œ ì´ìžê°€ 부과ë˜ë©�, 마진 범위ëŠ� 1.00%â€�2.00%(ë¯� 달러 기준금리 차입ì� 경우 0.00%â€�1.00%)입니ë‹�. 미사ìš� 잔액ì—는 0.09%â€�0.35%ì� 약정 수수료가 ì ìš©ë˜ë©°, ê°� 범위ëŠ� 회사ì� 선순ìœ� 무담ë³� ë¶€ì±� 등급ì—� ì—°ë™ë©ë‹ˆë‹�. 해당 계약ì—는 레버리지 비율 ë°� ê³ ì •ë¹� 커버리지 비율ì� 유지 ë“� 통ìƒì ì¸ covenant, 목표 비율 달성 전까지ì� 배당 제한 ë°� ì¼ë°˜ì ì¸ ë””í´íŠ� ì¡°í•­ì� í¬í•¨ë˜ì–´ 있습니다. 별ë„ë¡� Celanese USëŠ� ì—°ê²° ê³ ì •ë¹� 커버리지 비율ì� 최저 기준ê³� 유사í•� 배당 제한ì� 추가하는 ì �6ì°� 수정ì•�(Sixth Amendment)ì—� í•©ì˜í–ˆìŠµë‹ˆë‹¤. ì „ì²´ ì¡°ê±´ì€ ì²¨ë¶€ë¬¸ì„œ(Exhibits) 10.1 ë°� 10.2ì—� 기재ë˜ì–´ 있습니다.

Celanese Corporation a conclu un contrat de crédit renouvelable non garanti d'une durée de cinq ans, offrant une facilité de $1.75 billion avec un sous‑plafond de $250 million pour les lettres de crédit, en remplacement de son revolver précédent. La facilité est disponible en dollars américains et dans certaines autres devises et est garantie par la société, par Celanese US Holdings LLC et par certaines filiales nationales.

Les emprunts portent intérêt sur la base du Daily Simple SOFR, du Term SOFR ou d'un taux de base usuel majoré d'une marge de 1.00%�2.00% (ou 0.00%�1.00% pour les emprunts en dollars calculés au taux de base) ; les montants non utilisés sont assujettis à une commission d'engagement de 0.09%�0.35%. Chaque fourchette est liée aux notations de la dette senior non garantie de la société. L'accord comprend des covenants usuels � maintien d'un ratio d'endettement et d'un ratio de couverture des charges fixes � des limites aux dividendes jusqu'à l'atteinte d'un ratio cible et des dispositions habituelles en cas de défaut. Par ailleurs, Celanese US a accepté un sixième avenant à son Term Loan Credit Agreement ajoutant un ratio consolidé minimum de couverture des charges fixes et des limitations similaires sur les dividendes. Les conditions complètes figurent dans les Annexes (Exhibits) 10.1 et 10.2.

Celanese Corporation hat eine unbesicherte revolvierende Kreditvereinbarung über fünf Jahre abgeschlossen, die eine Fazilität von $1.75 billion mit einem $250 million Sublimit für Akkreditive vorsieht und ihren vorherigen Revolver ersetzt. Die Fazilität ist in US-Dollar und in bestimmten anderen Währungen verfügbar und wird von der Gesellschaft, Celanese US Holdings LLC und bestimmten inländischen Tochtergesellschaften garantiert.

Die Aufnahme von Darlehen verzinst sich auf Basis des Daily Simple SOFR, des Term SOFR oder eines üblichen Basiszinssatzes zuzüglich einer Marge von 1.00%�2.00% (oder 0.00%�1.00% bei US-Dollar-Finanzierungen auf Basis des Basiszinssatzes); nicht in Anspruch genommene Beträge unterliegen einer Commitment-Gebühr von 0.09%�0.35%. Jede Spannbreite ist an die Ratings der ungesicherten vorrangigen Verbindlichkeiten des Unternehmens gebunden. Die Vereinbarung enthält übliche Covenants � die Aufrechterhaltung einer Verschuldungsquote und einer Kennzahl zur Deckung fester Aufwendungen � Beschränkungen für Dividendenausschüttungen bis zum Erreichen einer Zielkennzahl sowie übliche Ereignis‑von‑Verzug‑Bestimmungen. Separat hat Celanese US einer sechsten Änderung ihres Term Loan Credit Agreement zugestimmt, die eine Mindest‑konsolidierte Kennzahl zur Deckung fester Aufwendungen sowie ähnliche Dividendeneinschränkungen aufnimmt. Die vollständigen Bedingungen sind in den Exhibits 10.1 und 10.2 aufgeführt.

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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): August 11, 2025 (August 11, 2025)

 

CELANESE CORPORATION

 (Exact name of registrant as specified in its charter)

 

Delaware   001-32410   98-0420726

(State or other jurisdiction
of incorporation)

 

(Commission File
Number)

 

(IRS Employer
Identification No.)

 

222 West Las Colinas Blvd. Suite 900N, Irving, TX 75039

(Address of Principal Executive Offices) (Zip Code)

 

Registrant's telephone number, including area code: (972) 443-4000

 

N/A

(Former name or former address, if changed since last report)

 

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 (see General Instruction A.2. below):

 

¨  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))

  

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 $0.0001 per share   CE   New York Stock Exchange
4.777% Senior Notes due 2026   CE /26A   New York Stock Exchange
2.125% Senior Notes due 2027   CE /27   New York Stock Exchange
0.625% Senior Notes due 2028   CE /28   New York Stock Exchange
5.337% Senior Notes due 2029   CE /29A   New York Stock Exchange
5.000% Senior Notes due 2031   CE /31   New York Stock Exchange

 

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

 

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

 

Revolving Credit Agreement

 

On August 11, 2025, Celanese Corporation (the “Company”) and its wholly owned subsidiary Celanese US Holdings LLC (“Celanese US”) entered into a Credit Agreement (the “Revolving Credit Agreement”) by and among the Company, Celanese US as borrower, certain subsidiaries of Celanese US from time to time party thereto as borrowers, each lender from time to time party thereto, Bank of America, N.A., as Administrative Agent, a Swing Line Lender and an L/C Issuer and other Swing Line Lenders and L/C Issuers party thereto. Obligations under the Revolving Credit Agreement are guaranteed by the Company, Celanese US (in the case of borrowings by other borrowers) and certain domestic subsidiaries of Celanese US.

 

The Revolving Credit Agreement provides for a five-year $1.75 billion unsecured revolving credit facility, which is available in U.S. dollars and certain other currencies as provided therein, and which includes a sublimit of $250 million for the issuance of letters of credit (the “Revolving Facility”). The Revolving Facility replaces the Company's existing revolving credit facility under the Credit Agreement dated as of March 18, 2022, by and among the Company, Celanese US, Celanese Europe B.V., a wholly owned subsidiary of the Company, certain subsidiaries of Celanese US from time to time party thereto as borrowers, each lender from time to time party thereto, Bank of America, N.A., as Administrative Agent, a Swing Line Lender and an L/C Issuer and other Swing Line Lenders and L/C Issuers party thereto, which was terminated on August 11, 2025 in connection with the entry into the Revolving Credit Agreement.

 

Amounts outstanding under the Revolving Credit Agreement accrue interest at an annual rate based on, in the case of U.S. dollar borrowings, Daily Simple SOFR, Term SOFR or a customary base rate, at the borrower’s election, or in the case of foreign currency borrowings, the interest benchmark for such currency provided in the Revolving Credit Agreement, in each case plus a margin of between 1.00% and 2.00% (or between 0.00% and 1.00% in the case of U.S. dollar base rate borrowings), depending on the Company’s senior unsecured debt ratings. Undrawn amounts under the Revolving Credit Agreement are subject to a commitment fee at an annual rate of between 0.09% and 0.35%, depending on the Company’s senior unsecured debt ratings.

 

The Revolving Credit Agreement contains certain covenants, which, among other things, require the maintenance of a leverage ratio and a fixed charge coverage ratio, limit increases to the Company's dividend until a specified target ratio is met, restrict certain merger transactions and sales of all or substantially all of the assets and limit the amount of liens and subsidiary indebtedness. Upon the occurrence of certain events of default, the Company’s obligations under the Revolving Credit Agreement may be accelerated. Such events of default include payment defaults under the Revolving Credit Agreement, covenant defaults and other customary defaults.

 

The financial institutions party to the Revolving Credit Agreement have performed and may continue to perform commercial banking and financial services for the Company for which they have received and will continue to receive customary fees.

 

The foregoing description does not constitute a complete summary of the terms of the Revolving Credit Agreement and is qualified in its entirety by reference to the copy of the Credit Agreement filed as Exhibit 10.1 to this Current Report, which is incorporated herein by reference.

 

Amendment to Term Loan Credit Agreement

 

On August 11, 2025, Celanese US entered into a Sixth Amendment to Credit Agreement (the “Amendment to the Term Loan Credit Agreement”), which amends the Term Loan Credit Agreement, dated as of March 18, 2022, by and among the Company, Celanese US, the subsidiaries of the Company party thereto as guarantors, the lenders party thereto and Bank of America, N.A., as Administrative Agent (as amended, restated, supplemented or otherwise modified prior to August 11, 2025, the “Term Loan Credit Agreement”).

 

The Amendment to the Term Loan Credit Agreement adds a minimum consolidated fixed charge coverage ratio covenant, limits increases to the Company's dividend until reaching a target consolidated leverage ratio and makes certain other modifications.

 

The foregoing description does not constitute a complete summary of the terms of the Amendment to the Term Loan Credit Agreement and is qualified in its entirety by reference to the copy of the Amendment to the Term Loan Credit Agreement filed as Exhibit 10.2 to this Current Report, which is incorporated herein by reference.

 

2 

 

 

Item 1.02 Termination of a Material Definitive Agreement

 

The information included in Item 1.01 of this Current Report is incorporated by reference into this Item 1.02.

 

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

 

The information included in Item 1.01 of this Current Report is incorporated by reference into this Item 2.03.

 

Item 9.01 Financial Statements and Exhibits

 

(d) The following exhibits are being filed herewith:

 

Exhibit

Number

   
  Description
10.1   Credit Agreement, dated as of August 11, 2025, by and among Celanese Corporation, Celanese US Holdings LLC, certain subsidiaries of Celanese US Holdings LLC from time to time party thereto as borrowers, each lender from time to time party thereto, Bank of America, N.A., as Administrative Agent, a Swing Line Lender and an L/C Issuer and other Swing Line Lenders and L/C Issuers party thereto.*
     
10.2   Sixth Amendment to Credit Agreement, dated as of August 11, 2025, by and among Celanese Corporation, Celanese US Holdings LLC, the subsidiary guarantors party thereto, each lender party thereto, and Bank of America, N.A., as Administrative Agent, amending that certain Term Loan Credit Agreement dated as of March 18, 2022.*
     
104   Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document contained in Exhibit 101)

 

*The Company has omitted certain schedules and similar attachments to such agreements pursuant to Item 601(a)(5) of Regulation S-K. The Company will furnish a copy of such omitted documents to the SEC upon request.

 

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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.

 

  CELANESE CORPORATION  
   
  By: /s/ ASHLEY B. DUFFIE
  Name: Ashley B. Duffie
  Title: Senior Vice President, General Counsel and Corporate Secretary
     
  Date: August 11, 2025

 

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FAQ

What credit facility did Celanese (CE) establish?

Celanese established a five-year unsecured revolving credit facility of $1.75 billion with a $250 million letters-of-credit sublimit.

How is interest calculated under the new Celanese revolver?

U.S. dollar borrowings accrue interest based on Daily Simple SOFR, Term SOFR or a customary base rate plus a margin of 1.00%�2.00% (or 0.00%�1.00% for base-rate borrowings), tied to the company’s senior unsecured debt ratings.

Are there fees on undrawn commitments under the CE revolver?

Yes. Undrawn amounts incur a commitment fee of 0.09%�0.35% annually, depending on Celanese’s senior unsecured debt ratings.

What covenant changes were made to the Term Loan Agreement?

Celanese US entered into a Sixth Amendment adding a minimum consolidated fixed charge coverage ratio, limiting dividend increases until a target consolidated leverage ratio is met, and making other modifications.

Who guarantees obligations under the new revolver?

The revolver is guaranteed by Celanese Corporation, Celanese US (for borrowings by other borrowers) and certain domestic subsidiaries of Celanese US.
Celanese Corp Del

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5.23B
108.93M
0.42%
103.46%
5.85%
Chemicals
Plastic Material, Synth Resin/rubber, Cellulos (no Glass)
United States
IRVING