Kraton to reprice term loan, extend to 2025, upsize euro tranche

By Sarah Lizee

Olympia, Wash., Feb. 22 – Kraton Corp. said it plans to reprice the existing term loans under its senior secured term loan facility, extend the maturity by three years to March 2025 and increase borrowings under the euro-denominated tranche by about $100 million to $200 million.

The company plans to use the proceeds from additional borrowings under the euro-denominated tranche to pay down a portion of the existing dollar-denominated tranche under the facility, according to a press release.

Kraton said it anticipates holding lender conference calls to discuss the financing on Friday.

J.P. Morgan, Deutsche Bank and Credit Suisse are joint lead arrangers and joint bookrunners for the financing.

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

© 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.