Kraton extends $250 million secured asset-based revolver to 2023

By Sarah Lizee

Olympia, Wash., April 15 – Kraton Corp. announced a two-year extension of its $250 million senior secured asset-based revolving credit facility to January 2023.

Availability is subject to a borrowing base, supported by inventory and receivables.

The facility has a $100 million uncommitted accordion feature.

The loan was extended with no significant change in terms and a price increase of 50 basis points in the borrowing margin for amounts outstanding under the facility while improving borrowing base advance rates.

The ABL facility is provided by a syndicate of banks with Bank of America, NA as administrative agent, collateral agent and security trustee.

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

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