Ingevity borrows $250 million under revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, March 23 – Ingevity Corp. said it recently borrowed $250 million under its $750 million revolving credit facility “out of an abundance of caution,” according to a news release.

The company had $620 million available under the revolver at year-end.

“Ingevity’s first quarter is progressing somewhat better than expected, despite moderate headwinds from the coronavirus,” Rick Kelson, Ingevity’s chairman of the board and interim president and chief executive officer, said in the release. “Nonetheless, the situation is and will be very dynamic as we move through the rest of the year.”

North Charleston, S.C.-based Ingevity manufactures specialty chemicals and high-performance activated carbon materials.

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