Kraton Polymers amends, permitting debt incurrence, loan extensions

By Sara Rosenberg

New York, Oct. 22 - Kraton Polymers LLC amended its credit facility, allowing for the obtainment of secured debt to refinance existing term loans and for the extension of revolver and term loan maturities, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Under the amendment, the company can establish separate classes of commitments to replace all or a portion of its existing revolver commitments. Pricing on the replacement commitments will differ from existing pricing. There may be no more than three classes of commitments - existing or replacement - outstanding at any time.

The company can also convert all or a portion of existing term loans into separate classes of term loans that extend the scheduled amortization and maturity. Pricing on the extended loan will differ from current pricing. There is no limit on the number of classes of term loans outstanding at any one time.

The amendment was completed on Oct. 20.

Bank of America is the lead bank on the deal.

Kraton is a Houston-based producer of engineered polymers.

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