Cytec draws $210 million from $400 million revolver for acquisition

By Marisa Wong

Madison, Wis., April 12 - Cytec Industries Inc. drew down $210 million from its $400 million revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The drawdown was used to fund a cash offer made by wholly owned subsidiary Cytec UK Holdings Ltd. for the acquisition of Umeco plc.

Cytec is a Woodland Park, N.J.-based specialty chemicals and materials technology company. Umeco provides advanced composite materials to the aerospace and defense, wind energy, recreation and automotive industries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.