Neenah reduces asset-based revolver by $50 million to $175 million

By Wendy Van Sickle

Columbus, Ohio, June 30 – Neenah Inc. reduced its global asset-based revolving credit facility to $175 million from $225 million, according to a news release on Tuesday.

The downsizing of the revolver was part of a refinancing that included entry into a new previously announced $200 million seven-year covenant-lite term loan B.

The company also called for redemption on July 16 its $175 million of senior notes due May 2021.

Neenah is an Alpharetta, Ga.-based specialty materials company focused on premium niche markets that value performance and image.

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