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
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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.
