Kraton announces amendment and extension of asset-based revolver

By Cady Vishniac

Detroit, Dec. 3 – Kraton Corp. has amended and extended its senior secured asset-based revolving credit facility, according to a press release.

The facility’s maturity has been extended to December 2025 from January 2023.

The amount has also been increased to $300 million from $250 million. Additionally, there is a $100 million uncommitted accordion feature.

The amendment also includes a decrease of 50 basis points to the borrowing margin, 75 bps in the floor rate for amounts outstanding and borrowed and a 12.5 bps reduction to the unused line fee for available committed amounts with no outstanding borrowings.

Bank of America, NA is the facility’s administrative agent, collateral agent and security trustee.

Kraton is a Houston-based producer of specialty polymers and high-value biobased products derived from pine wood pulping co-products.

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