debt
confidence high
sentiment neutral
materiality 0.65
Celanese amends credit agreement, raises leverage covenant to 5.50x and debt baskets to $1.05B
Celanese Corp
- Consolidated net leverage ratio covenant set at 5.50:1.00 from Q1 2027 through Q3 2027, stepping down to 4.00:1.00 by Q1 2030.
- Combined debt baskets for foreign subsidiary acquisitions and Chinese subsidiary debt increased from $900M to $1,050M.
- Amendment effective July 31, 2026; required lenders consented.
- Covenant relief period extended through maturity unless company elects to terminate when leverage ≤3.50x.
- Up to two covenant increase periods allowed (to 4.25x) for qualifying acquisitions after leverage drops to 3.50x.