Momentive extends $436 million, €294 million of term loan borrowings

By Sara Rosenberg

New York, Feb. 3 - Momentive Performance Materials Holdings LLC extended about $436 million, or 87%, of its U.S. term loan and about €294 million, or 77%, of its euro term loan, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The term loans were extended to May 5, 2015 from Dec. 4, 2013 at pricing of Libor plus 350 basis points, versus Libor plus 225 bps on the non-extended debt.

The amendment also provides that future mandatory and voluntary prepayments be directed to non-extended term loans prior to the extended loans.

J.P. Morgan Securities LLC acted the lead bank on the amendment and extension, which was completed on Thursday.

Momentive Performance is a Columbus, Ohio-based specialty chemicals and materials company.

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