CBT · Cabot Corporation

Cabot Corporation has secured a significantly expanded $1.3 billion unsecured revolving credit facility, up from its prior $1 billion USD and €300 million facilities, providing greater liquidity and a longer five-year maturity through May 12, 2031, versus the previous agreements expiring August 6, 2027. This renewal enhances financial flexibility for general corporate purposes across multiple currencies, supported by a strong syndicate led by JPMorgan entities. The interest margin of 0.68% to 1.20% over Term Benchmark or RFR rates ties directly to the company's credit ratings, signaling market confidence in its profile. The leverage covenant maintains discipline at 3.75x net debt to EBITDA (with cash offset up to $200 million), offering temporary relief to 4.25x following material acquisitions, which supports potential growth initiatives without immediate strain. Termination of the old facilities ensures a clean transition without overlap. Overall, this positions Cabot with robust revolving capacity amid customary protections, bolstering balance sheet resilience for investors.