Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On
The Notes bear interest at a rate of 7.125% per annum. Interest on the Notes
will be payable semi-annually in arrears on
The terms of the Notes are governed by the Indenture. The Indenture contains customary covenants that, among other things, limit the Company's ability to incur additional indebtedness and issue preferred stock, pay dividends on or purchase the Company's equity interests, make certain investments, incur liens on assets, enter into sale and leaseback transactions, merge or consolidate with another company, transfer or sell all or substantially all of the Company's assets, and enter into transactions with affiliates. Upon the occurrence of a "change of control," as defined in the Indenture, the Company is required to offer to repurchase the Notes in cash from the holders at a price equal to 101% of their principal amount, together with accrued and unpaid interest, if any, to, but not including, the date of repurchase.
The Company may redeem any of the Notes beginning on
In addition, at any time or from time to time prior to
The Indenture contains customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to pay or acceleration of certain other indebtedness, certain events of bankruptcy and insolvency, and failure to pay certain judgments. An event of default under the Indenture will allow either the Trustee or the holders of at least 25% in aggregate principal amount of the then-outstanding Notes to accelerate, or in certain cases, will automatically cause the acceleration of, the amounts due under the Notes.
The foregoing description of the Indenture does not purport to be complete, and is qualified in its entirety by reference to the full text of the Indenture, a copy of which is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
d) Exhibits. Exhibit Number Description 4.1 Indenture, datedAugust 10, 2022 , betweenAvient Corporation andU.S. Bank Trust Company, National Association , as trustee. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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