AdvanSix Inc. filed a Form 8-K on August 17, 2026, disclosing that on August 14, 2026, the company completed a refinancing of its existing senior secured credit facility by entering into a new Credit Agreement with Citizens Bank, N.A. as administrative agent, providing for a $275 million revolving credit facility and a $150 million term loan facility.

Key Highlights

  • New revolving credit facility: AdvanSix established a senior secured revolving credit facility in an aggregate principal amount of $275 million, maturing August 14, 2031.
  • New term loan facility: A senior secured term loan facility of $150 million was established, also maturing August 14, 2031, with quarterly amortization at 2.50% per annum in year one, 5.00% in years two through four, and 7.50% in year five.
  • Closing-date borrowings: As of August 14, 2026, the company had borrowed $145 million under the revolving facility and $150 million under the term facility, with approximately $17 million of cash on hand.
  • Interest rate terms: Borrowings bear interest at a base rate plus a margin of 0.50% to 1.50%, or Term SOFR plus a margin of 1.50% to 2.50%, varying with the company's Consolidated Leverage Ratio; the applicable margins as of closing are 1.00% and 2.00%, respectively.
  • Prior facility terminated: On August 14, 2026, the outstanding loans under the existing Credit Agreement, originally dated October 27, 2021, were paid in full and all related commitments, guarantees, and security interests were released.
  • Financial covenants: The new Credit Agreement requires the company to maintain a Consolidated Interest Coverage Ratio of not less than 3:00 to 1:00 and a Consolidated Leverage Ratio of 3.75 to 1.00 or less for each fiscal quarter.

AdvanSix Enters $425 Million Credit Agreement With Citizens Bank as Agent

According to the filing, AdvanSix Inc. (NYSE:ASIX) closed its refinancing on August 14, 2026, replacing the prior facility that had been in place since October 27, 2021 and subsequently amended twice before the refinancing date. The new Credit Agreement names Citizens Bank, N.A. as administrative agent, replacing Truist Bank in that role. The company disclosed that substantially all tangible and intangible assets of AdvanSix and its material domestic subsidiaries are pledged as collateral under the new agreement.

The filing states that the revolving facility permits up to $40 million to be used for letters of credit and up to $40 million for swing line loans. The commitment fee on unused revolving commitments ranges from 0.20% to 0.40% per annum based on the company's Consolidated Leverage Ratio, with the applicable rate as of the closing date set at 0.30% per annum. The proceeds borrowed on the closing date were used to refinance obligations under the prior credit agreement, pay associated fees and expenses, and, to the extent of remaining proceeds, for general corporate purposes.

The Credit Agreement contains covenants that, according to the filing, limit the ability of the company and its subsidiaries to, among other things, "pay cash dividends, incur debt or liens, redeem or repurchase stock of the Company, enter into transactions with affiliates, make investments, merge or consolidate with others or dispose of assets." The filing notes that if the company does not comply with these covenants, lenders may, subject to customary cure rights, require immediate repayment of all outstanding amounts. The full Credit Agreement was filed as Exhibit 10.1 to the Form 8-K.

What Was Disclosed

AdvanSix disclosed the entry into a new $425 million senior secured credit agreement with Citizens Bank, N.A. as agent, the simultaneous termination of the prior facility, and the creation of a direct financial obligation, all effective August 14, 2026.