Koppers seals $300 million five-year revolver at Libor plus 175 bps

By Susanna Moon

Chicago, April 2 - Koppers Inc., a wholly owned subsidiary of Koppers Holdings Inc., closed a $300 million five-year revolving credit facility at Libor plus 175 basis points.

Interest on the loans ranges from 175 bps to 225 bps, based on leverage.

The company entered into the revolving facility on March 27 with a syndicate of banks led by PNC Capital Markets LLC and co-led by RBS Citizens NA and Banc of America Securities LLC as joint bookrunners, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement matures on March 27, 2018 and replaces the $300 million revolver set to expire in March 2015.

PNC Bank, NA is the administrative agent; Bank of America, NA is the documentation agent; and Citizens Bank of Pennsylvania, First Commonwealth Bank and Wells Fargo Bank, NA are the syndication agents.

Koppers is a Pittsburgh-based provider of carbon compounds and commercial wood treatment products.

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