Daily News: February 22, 2018

JPMorgan, Others Arrange Kraton Term Loan Amendment

Kraton contracted with JPMorgan, Deutsche Bank and Credit Suisse as joint lead arrangers and joint bookrunners to amend its existing senior secured facility.

The proposed amendments include:

  • Repricing the existing term loans under the term loan facility
  • Extending the maturity by approximately three years to March 2025
  • Increasing borrowings under the Euro denominated tranche of the term loan facility by approximately $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 U.S. dollar-denominated tranche.

Kraton develops, manufactures and markets biobased chemicals and specialty polymers.