secwatch.observer — SEC 8-K summary
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Issuer:     Celanese Corp (CE)
CIK:        0001306830
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001306830-24-000014
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Celanese amends credit agreements to relax net leverage covenant through March 2026 and increase debt baskets by $200M
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- Net leverage covenant set at 5.00:1.00 from June 30, 2024 to March 31, 2026, then steps down to 3.50:1.00.
- Celanese US may elect to end Covenant Relief Period if quarterly net leverage is not greater than 3.50:1.00.
- Debt baskets for foreign subsidiary acquisitions and Chinese subsidiary debt increased from $700M to $900M.
- Amendments dated February 16, 2024; affect March 2022 Revolving and Term Loan Credit Agreements.
- Covenant Relief Period now ends on delivery of Compliance Certificate for fiscal quarter ending March 31, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1306830/000130683024000014/0001306830-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1306830/000130683024000014/ce-20240216.htm
  HTML page:      https://secwatch.observer/filing/0001306830-24-000014

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