CSW Industrials announced the closing of a five-year, $250 million revolving credit facility, with an additional $50 million accordion feature. The new facility was arranged by JP Morgan Chase and SunTrust Robinson Humphrey, with additional existing and new lenders participating in the deal.

Including the accordion feature, the new credit facility represents a $100 million increase, allowing for greater financial flexibility to execute strategic priorities. The interest rate on the new credit facility is initially Libor plus 1.75%, representing a reduction from the weighted average rate of existing debt outstanding.

“We are very pleased with the support of our bank group. We were able to upsize the facility due to the strong demand from our lenders and are gratified by the confidence that connotes. This credit facility will finance our acquisition strategy at a very attractive cost.”
Joseph B. Armes, CSW Industrials’ CEO, said.

Dallas-based CSW is a diversified industrial growth company with domain expertise in industrial products; coatings, sealants and adhesives and specialty chemicals