LyondellBasell said on July 17, 2024 that it entered into a Third Amended and Restated Credit Agreement with LYB Americas Finance Company LLC as co-borrower. The agreement provides a $3.75 billion senior unsecured revolving credit facility.

1. 01

   LyondellBasell said on July 17, 2024 that it entered into a Third Amended and Restated Credit Agreement with LYB Americas Finance Company LLC as co-borrower. The agreement provides a $3.75 billion senior unsecured revolving credit facility.

2. 02

   The company said the credit facility matures on July 17, 2029 and allows euro- and dollar-denominated loans to the company and the co-borrower. It also includes a letter of credit sublimit and a swing line loan sublimit.

3. 03

   The company said the agreement amends and restates the Prior Agreement, its existing $3.25 billion 5-year credit agreement, and is maintained for general corporate purposes. Borrowings must be repaid by July 17, 2029 unless that date is extended under the agreement's terms. The agreement is dated November 23, 2021.

4. 04

   The company said the agreement requires it to maintain a maximum consolidated leverage ratio and contains restrictive covenants on additional indebtedness, mergers and asset sales. It also includes customary events of default, including nonpayment of principal or interest, covenant breaches, bankruptcy or insolvency events, and changes of control.

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