01—Abstract
Summary
Summary of the 8-K filed May 29, 2026. Cited figures are marked; the original filing is the authoritative source.
LyondellBasell Industries N.V.
(LYB) reported in a Form 8-K filed May 29, 2026 that certain subsidiaries entered into an Eighth Amendment to Receivables Purchase Agreement for its structured accounts receivable facility, originated in September 2012 (the "Receivables Facility"). The amendment is effective June 26, 2026. It involves Lyondell Chemical Company as servicer, LYB Receivables LLC, a bankruptcy-remote special purpose entity wholly owned by the company, as seller, and Mizuho Bank, Ltd. as Administrator and LC Bank, along with conduit purchasers, committed purchasers, LC participants, and purchaser agents.
The amendment extends the facility's term to June 25, 2027 and reduces the maximum amount available under it from $900 million to $700 milliona. It also makes certain updates to align the facility with the company's senior unsecured revolving credit facility. The filing states that no other terms of the Receivables Facility have changed materially, and that as of May 29, 2026, there were no trade receivable purchases or letters of credit outstanding under the facility.
The filing is primarily a disclosure of a material definitive agreement and a related direct financial obligation under Items 1.01 and 2.03. The full amendment is filed as Exhibit 10.1, and the summary in the report is qualified by reference to that exhibit.
02—Key points
Key Highlights
- Entry into the Eighth Amendment to Receivables Purchase Agreement, reported under Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation).
- The amendment is dated May 29, 2026 and becomes effective June 26, 2026.
- The Receivables Facility's term is extended to June 25, 2027.
- The maximum amount available under the Receivables Facility is reduced from $900 million to $700 million.
- Terms are updated to be consistent with the company's senior unsecured revolving credit facility; the filing states no other terms have changed materially.
- As of May 29, 2026, no trade receivable purchases or letters of credit were outstanding under the facility.
- Mizuho Bank, Ltd. serves as Administrator and LC Bank, and Lyondell Chemical Company serves as servicer; the full agreement is filed as Exhibit 10.1.
03—Questions
Frequently Asked Questions
What is the Receivables Facility and what changed under the amendment?
The Receivables Facility is a structured accounts receivable facility originated in September 2012, with LYB Receivables LLC, a wholly owned bankruptcy-remote subsidiary, as seller. The Eighth Amendment extends its term to June 25, 2027 and reduces the maximum amount available from $900 million to $700 million, with updates to align it with the company's senior unsecured revolving credit facility.
When does the amendment take effect?
The amendment was entered into on May 29, 2026 and is effective as of June 26, 2026.
Was the facility being used as of the filing date?
The filing states that as of May 29, 2026, there were no trade receivable purchases or letters of credit outstanding under the Receivables Facility.
Who are the parties to the agreement?
The parties include Lyondell Chemical Company as servicer, LYB Receivables LLC as seller, the conduit purchasers, related committed purchasers, LC participants and purchaser agents, and Mizuho Bank, Ltd. as Administrator and LC Bank.
Where can investors find the full terms of the amendment?
The full RPA Eighth Amendment is included in the Form 8-K as Exhibit 10.1, and the report's summary is qualified in its entirety by reference to that exhibit.
04—Continue