Company: AVNT
Filing Date: 2025-06-16
Form Type: 8-K
Source: 0001193125-25-141088
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Company: AVIENT CORP
Filing Date: 2025-06-16
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement.  

On June 12, 2025 (the “ Closing Date”), Avient Corporation, an Ohio corporation (the “ Company”), entered into a Revolving Credit Agreement (the “ Credit Agreement”) with JPMorgan Chase Bank, N. A., as administrative agent, and the various lenders party thereto, which replaces the Company’s existing Third Amended and Restated Credit Agreement, dated as of June 28, 2019 (as amended), by and among the Company, the Company’s subsidiaries party thereto, Wells Fargo Capital Finance, LLC, as administrative agent, and the various lenders and other agents party thereto.

Borrowings under the Credit Agreement will be used for working capital, capital expenditures and other general corporate purposes. Loans under the Credit Agreement will mature five years from the Closing Date (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 Revolving Credit Facility provides for revolving credit borrowings, with sublimits for swingline borrowings and issuance of letters of credit.

Borrowings under the Revolving Credit Facility will bear interest, at the Company’s election, at either the Alternate Base Rate or the Relevant Rate (each, as defined in and calculated under and as in effect from time to time under the Credit Agreement), plus an applicable margin. The applicable margin is determined by the Company’s Consolidated Leverage Ratio (as defined in the Credit Agreement) and ranges from 0.250% to 1.000% for Alternate Base Rate loans and 1.250% to 2.000% for Relevant Rate loans. Advances may be extended in U. S. Dollars or in specified alternative currencies.

The Credit Agreement contains representations and warranties, affirmative covenants, negative covenants and events of default that are substantially similar to those contained in the Company’s existing term loan Credit Agreement, dated as of November 12, 2015 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time), by and among the Company, Citibank, N. A., as administrative agent, and the lenders party thereto, plus a springing financial maintenance covenant, in each case, which are usual and