Hudson Technologies, and its wholly-owned subsidiary, Hudson Holdings, completed the acquisition from Airgas of all of the outstanding stock of Airgas-Refrigerants. At closing, Holdings paid net cash consideration to Airgas of approximately $209.3 million.

The cash consideration paid by Holdings at closing was financed with available cash balances, plus $80 million of borrowings under an enhanced asset-based lending facility of $150 million from PNC Bank and a new term loan of $105 million from funds advised by FS Investments and sub-advised by GSO Capital Partners LP.

PNC Bank served as administrative agent, collateral agent and lender, PNC Capital Markets served as lead arranger and sole bookrunner.

The PNC facility also contains a sublimit of $15 million for swing line loans and $5 million for letters of credit.

Amounts borrowed under the PNC facility may be used by the Borrowers to consummate the acquisition and for working capital needs, certain permitted future acquisitions and to reimburse drawings under letters of credit. At October 10, 2017, total borrowings under the PNC facility were $80 million.