Celanese Corp modifies credit facilities to its subsidiary
03 Dec '05
1 min read
Integrated global producer of value-added industrial chemicals, Celanese Corporation announced that its subsidiary, BCP Crystals US Holdings Corporation, amended its senior credit facilities to reduce its borrowing costs.
In the amendment, effective November 28, 2005, to the Amended and Restated Credit Agreement dated as of January 26, 2005, the margin over LIBO on approximately $1.4 billion of the U.S. dollar denominated portion of the Term Loans will be reduced from 2.25 Percent to 2.00 Percent. In addition, a further reduction of the interest rate to LIBO plus 1.75 Percent is allowed if certain conditions are met.
Celanese Corporation is an included global manufacturer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in 13 countries in North America, Europe and Asia.
In 2004, Celanese Corporation and its predecessor had combined net sales of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP.
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