secwatch.observer — SEC 8-K summary
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Issuer:     Celanese Corp (CE)
CIK:        0001306830
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001104659-24-113884
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Celanese enters $1B term loan facility and amends leverage covenants
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- New $1.0B delayed-draw term loan facility due 364 days from borrowing, available through March 15, 2025.
- Proceeds to repay existing note maturities due in Q1 2025.
- Consolidated net leverage ratio covenant relaxed to 5.75:1.00 through March 2027, with step-downs.
- Receivables financing basket reduced to $650M and general negative covenant baskets cut to 2.5% of net tangible assets during relief period.
- Interest at Term SOFR plus 1.30%-2.25% or base rate plus 0.30%-1.25% based on debt rating.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1306830/000110465924113884/0001104659-24-113884-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1306830/000110465924113884/tm2427374d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-113884

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