Olin Corporation has entered into a second amendment to its credit agreement to establish new credit facilities totaling $2.5 billion. The new financing is contingent upon the consummation of the company's previously announced merger of equals with Huntsman Corporation and will be used to refinance existing debt for both entities.
Key Details
- New Credit Facilities: The amended agreement, dated October 27, 2026, provides for a new $750 million senior term loan facility and a new $1.75 billion senior revolving credit facility.
- Merger Contingency: The effectiveness of the new facilities is subject to the closing of the merger between Olin and Huntsman Corporation, which was announced on June 15, 2026.
- Use of Proceeds: The funds will be used to refinance loans under Olin's existing credit agreement, repay all amounts outstanding under Huntsman's existing revolving credit facility, and pay related transaction fees and expenses.
- Maturity & Terms: The new credit facilities are scheduled to mature five years after their closing date. Borrowings will bear interest at variable rates based on SOFR, EURIBOR, or SONIA, plus a margin determined by Olin's consolidated net leverage ratio.