Koppers to get new term loan, revolver upsize for acquisition

By Sara Rosenberg

New York, April 14 - Koppers Inc. plans on getting a new term loan and increased its existing revolving credit facility to fund its acquisition of the Wood Preservation and Railroad Services businesses of Osmose Holdings Inc., according to an 8-K filed with the Securities and Exchange Commission on Monday.

The filing went on to say that the financing commitment obtained is for an $800 million senior secured credit facility.

PNC Bank is the lead bank on the deal.

Under the agreement, the Osmose businesses are being purchased for $460 million.

Closing is expected in the third quarter, subject to regulatory filings and customary conditions.

Koppers is a Pittsburgh-based producer of carbon compounds and treated wood products.

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