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LyondellBasell restates revolver for $3.25 billion due in five years
By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – LyondellBasell Industries NV and wholly owned subsidiary LYB Americas Finance Co. LLC amended and restated their credit agreement with Citibank, NA as administrative agent on Tuesday to provide for a $3.25 billion senior unsecured revolver that matures on Nov. 23, 2026, according to an 8-K filing with the Securities and Exchange Commission.
Prior to the amendment, the revolver was sized at $2.5 billion.
Borrowings bear interest at Libor plus a margin ranging from 87.5 basis points to 162.5 bps, and the commitment fee ranges from 7 bps to 20 bps, both depending on ratings.
The company is required by the credit agreement to maintain a maximum consolidated leverage ratio.
Citibank, Wells Fargo Securities LLC, BofA Securities, Inc., Deutsche Bank Securities Inc., JPMorgan Chase Bank, NA, Mizuho Bank, Ltd. and Morgan Stanley Senior Funding, Inc. are the lead arrangers and bookrunners.
Bank of America, NA, Deutsche, JPMorgan, Mizuho and Morgan Stanley are the documentation agents.
Wells Fargo Bank, NA is the syndication agent.
Proceeds may be used for general corporate purposes.
LyondellBasell is a Dutch chemical company with operations headquarters in Houston and offices in London.
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