OM Group amends revolver, providing $125 million accordion feature

By Sara Rosenberg

New York, Feb. 6 - OM Group Inc. amended its revolving credit facility, providing for a $125 million accordion feature, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

The accordion feature may be used to redeem the company's outstanding 9¼% senior subordinated notes due 2011.

These additional revolving loans must be repaid when the company receives net proceeds from the pending sale of its nickel business, but not later than July 31.

The amendment was completed on Jan. 31.

National City Bank is the administrative agent on the deal.

OM Group is a Cleveland-based developer, processor, manufacturer and marketer of specialty chemicals, powders, metals, and related products from various base metals feeds, primarily cobalt and nickel.

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