01—Abstract
Summary
Summary of the 8-K filed September 11, 2025. Cited figures are marked; the original filing is the authoritative source.
LyondellBasell Industries N.V.
(LYB) reported in this Form 8-K, filed September 11, 2025, that on September 10, 2025 it, LYB Americas Finance Company LLC, Citibank, N.A., as administrative agent, and various lenders entered into Amendment No. 1 to its Third Amended and Restated Credit Agreement dated July 17, 2024. The amendment primarily increases the Maximum Leverage Ratio, as defined in the Credit Agreement, through 2027 unless the Company elects to terminate those provisions sooner. In connection with the higher leverage ratio, the Company is subject to additional limitations, including restrictions on dividend increases and share repurchases, other than repurchases to offset dilution.
The filing also states that the leverage ratio modification is incorporated into the Company's $900 milliona structured accounts receivable facility, originated in September 2012, through an amendment under Section 5.1 of that facility. The filing is brief and reports the agreement under Items 1.01 and 2.03 (creation of a direct financial obligation). The full text of the amendment is filed as Exhibit 10.1, and the cover page is filed in Inline XBRL as Exhibit 104.
02—Key points
Key Highlights
- Entered into Amendment No. 1 on September 10, 2025 to the Third Amended and Restated Credit Agreement dated July 17, 2024, with Citibank, N.A. as administrative agent.
- The amendment primarily increases the Maximum Leverage Ratio through 2027, unless the Company elects to terminate those provisions sooner.
- Additional limitations apply in connection with the increase, including restrictions on dividend increases and share repurchases (other than to offset dilution).
- The leverage ratio change is also incorporated into the $900 million structured accounts receivable facility originated in September 2012, with Mizuho Bank, Ltd. as Administrator and LC Bank.
- Borrowers under the amended credit agreement are LyondellBasell Industries N.V. and LYB Americas Finance Company LLC, a wholly-owned subsidiary.
- Filed under Items 1.01 (Entry into a Material Definitive Agreement) and 2.03 (Creation of a Direct Financial Obligation or Off-Balance Sheet Arrangement).
03—Questions
Frequently Asked Questions
What changed in the credit agreement?
The amendment primarily increases the Maximum Leverage Ratio, as defined in the Credit Agreement, through 2027 unless the Company elects to terminate those provisions sooner.
What new limits does the Company face?
In connection with the higher leverage ratio, the Company is subject to additional limitations, including restrictions on dividend increases and share repurchases, other than repurchases to offset dilution.
Does the change affect the receivables facility?
Yes. The filing states the leverage ratio modification is incorporated into the $900 million structured accounts receivable facility, originated in September 2012, pursuant to Section 5.1 of that facility.
Where can the full terms be found?
The filing states the full text of the amendment is filed as Exhibit 10.1 to the Form 8-K, and the description in the filing is qualified in its entirety by that exhibit.
04—Continue