Ashland Global Holdings has completed the previously announced acquisition of privately-owned Pharmachem Laboratories, a provider of ingredients to the global health and wellness industries and differentiated products to fragrance and flavor houses.

Under terms of the stock purchase agreement, Ashland paid $660 million in an all-cash transaction, funded from a combination of cash on hand and proceeds of a borrowing under its existing securitization facility, a new $250 million three-year senior secured term loan A facility, a new $250 million five-year senior secured term loan facility and a new $680 million five-year senior secured revolving credit facility. Ashland expects to increase aggregate commitments under the revolving facility to $800 million.

According to a related 8-K filing, The Bank of Nova Scotia served as administrative agent, swing line lender and L/C issuer. Citibank served as syndication agent.

Other lenders included Merrill Lynch, Pierce, Fenner & Smith; Deutsche Bank Securities and PNC Capital Markets as joint lead arrangers and book managers. JPMorgan Chase Bank, Mizuho Bank, U.S. Bank, Credit Agricole CIB, Fifth Third bank and SunTrust Robinson Humphrey served as co-arrangers and senior co-managers. The Bank of Tokyo-Mitsubishi UFJ, DBS Bank, Morgan Stanley Senior Funding, Sumitomo Mitsui Banking and TD Bank served as co-arrangers.

“The addition of Pharmachem offers attractive growth opportunities in higher-margin end markets and strengthens our existing business with advanced processing know-how and formulation expertise,” said William A. Wulfsohn, Ashland chairman and CEO.