Tronox loan default waiver extended to Dec. 19

By Caroline Salls

Pittsburgh, Dec. 8 - Tronox Inc. and subsidiary Tronox Worldwide LLC's credit agreement default waiver has been extended to Dec. 19 from Dec. 5, according to an 8-K filed Monday with the Securities and Exchange Commission.

As previously reported, Tronox's credit agreement lenders have agreed to waive defaults stemming from the company's failure to comply with required maintenance of a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio for four consecutive quarters.

In addition, Tronox Funding LLC and Tronox Worldwide entered into a fourth amendment to a receivables sale agreement with the Royal Bank of Scotland plc and Amsterdam Funding Corp. that extends the scheduled termination date to Dec. 19 from Dec. 5.

Tronox is an Oklahoma City-based producer and marketer of titanium dioxide pigment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.