PQ Corporation, a global manufacturer of specialty inorganic performance chemicals, high-end catalysts and engineered glass beads, and Eco Services Operations, a provider of sulfuric acid recycling services, closed a previously announced merger.

Concurrently with the closing of the merger, Malvern, PA-based PQ refinanced its existing credit facilities by entering into a $1.2 billion senior secured term loan (consisting of a $900 million senior secured term loan and a $300 million Euro equivalent senior secured term loan), $625 million in new senior secured notes, $525 million in senior unsecured notes and a $200 million asset-based secured revolving credit facility.

According to a PQ company spokesperson, Credit Suisse agented the term loan and Citibank agented the ABL facility.

“Combining PQ and Eco Services and refinancing our credit facilities positions the new PQ to grow and prosper well into the future,” said George J. Biltz, president and CEO of the combined company. “Moving forward, our customers will continue to see superior product offerings and top-notch service from our dedicated team.”

Biltz anticipates a smooth integration process that is expected to yield significant back-office savings and other synergies that will serve PQ’s growth initiatives.

Michael R. Boyce will continue to serve as PQ’s chairman of the board, and Paul J. Ferrall will serve as president of the Eco Services business unit.