AVIENT CORP (AVNT): debt financing — Avient enters $500M senior secured revolving credit facility, replaces prior ABL agreement

AVIENT CORP

New $500M facility replaces existing ABL credit agreement; can be increased by up to $250M subject to lender commitments.
Matures five years from June 12, 2025; proceeds for working capital, capex, acquisitions and general corporate purposes.
Interest at Alternate Base Rate or Relevant Rate plus margin ranging from 0.250%–1.000% (ABR) and 1.250%–2.000% (Relevant Rate).
Financial covenant: maximum senior secured net leverage ratio of 3.00:1.00, stepping to 3.50:1.00 following material acquisitions.
JPMorgan Chase serves as administrative agent; Citigroup, Morgan Stanley, Truist as co-syndication agents.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AVIENT CORP incurred revolving credit of up to $500 million with JPMorgan Chase Bank, N.A. maturing five years from the Closing Date.

Instrument: revolving credit
Principal: up to $500 million
Counterparty: JPMorgan Chase Bank, N.A.
Maturity: five years from the Closing Date
Event: incurrence

Exact text from the filing

(subject to certain exceptions) and may be prepaid at any time without premium or penalty. The Credit Agreement consists of a senior secured revolving credit facility of up to $500 million (the “ Revolving Credit Facility ”), which may be increased by up to $250 million, subject to certain customary requirements and obtaining commitments for such increase. The

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Source: SEC EDGAR

accession 0001193125-25-141088

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