Orion Engineered adds €100 million to revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, May 31 – Orion Engineered Carbons SA added €100 million to its senior secured revolving credit facility, bringing its total size to €350 million, according to a news release.

“In light of current volatility within the global energy markets, we feel it is prudent to increase our revolving credit facility. We believe this will cover our working capital needs up to an oil price of about $200 per barrel. We want to be proactively prepared for this higher level of volatility,” Jeff Glajch, Orion’s chief financial officer, said in the release.

Orion Engineered is a Luxembourg-based producer of specialty and high-performance carbon black products.

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