PolyOne to enter into $100 million term loan add-on to repay revolver

By Tali Rackner

Norfolk, Va., July 27– PolyOne Corp. intends to enter into a $100 million add-on to its existing senior secured term loan to repay borrowings under its senior secured revolving credit facility, according to a 10-Q filing with the Securities and Exchange Commission.

The debt was incurred to fund its $85.5 million acquisitions of Gordon Composites, Inc. and Polystrand, Inc. The transactions were completed on Tuesday.

Upon completion of the add-on to the term loan, liquidity will approximate $560 million, PolyOne said.

PolyOne is an Avon Lake, Ohio-based provider of specialized polymer materials, services and solutions.

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