Goldman Sachs, Others Commit $1.3B Term Loan to Tronox
Tronox Limited announced it has received a commitment for a new $1.3 billion senior secured term loan provided by Goldman Sachs, UBS, Credit Suisse, and RBC Capital Markets. The new financing is targeted for completion by the end of the first quarter.
Tronox said the funds will be used for general corporate purposes and/or potential strategic alternatives. Following completion of this financing and prepayment of its existing loan in full, Tronox will have approximately $1.3 billion in cash on its balance sheet.
Stamford, CT-based Tronox is a producer of titanium bearing mineral sands and titanium dioxide pigment.