Bank of America served as administrative agent, collateral agent and security trustee on a two-year extension of Kraton Corporation’s $250 million secured asset-based revolving credit facility.
Availability under the facility is subject to a borrowing base, supported by inventory and receivables. The facility has a $100 million uncommitted accordion feature which, subject to satisfaction of specific terms and conditions, would provide for increased availability under the credit facility.
“Kraton continues to have a strong liquidity position, with its available cash on hand and significant borrowing base availability under the $250 million ABL facility,” Atanas H. Atanasov, senior vice president and CFO of Kraton Corporation, said. “The extension of the ABL facility maturity date to January of 2023 further strengthens Kraton’s liquidity position and financial flexibility, and was extended with no significant change in terms and a modest price increase of 50 basis points in the borrowing margin for amounts outstanding under the facility while improving borrowing base advance rates. We thank our bank group and appreciate their support and confidence in Kraton.”
Kraton Corporation is a producer of specialty polymers and biobased products derived from pine wood pulping co-products.
