Kraton Polymers wraps revolver amendment, extending maturity to 2013

By Sara Rosenberg

New York, Nov. 30 - Kraton Polymers LLC completed an amendment to its revolving credit facility on Monday that extended the maturity on $79.8 million of the commitments to May 2013 from May 2011, according to a news release.

In addition, the amendment increased the maximum available borrowings under the revolver to $80 million from $75.5 million. Of the total revolver size, $200,000 of the commitments was not extended.

Pricing on the extended revolver can range from Libor plus 300 basis points to 350 bps based on leverage, which is 100 bps higher than non-extended revolver pricing.

Also, the commitment fee on the extended revolver is 75 bps, up from 50 bps on the non-extended revolver.

Kraton is a Houston-based producer of styrenic block copolymers.

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