HOUSTON, US: Kraton Corporation (KRA) and certain of its wholly-owned subsidiaries said that they intend to amend the existing senior secured term loan facility to:
- reprice the existing term loans under the term loan facility;
- extend its maturity by approximately three years to March 2025; and
- increase borrowings under the euro-denominated tranche of the term loan facility by approximately $100 to $200 million.
The company plans to use the proceeds from additional borrowings under the euro-denominated tranche to pay down a portion of the existing US dollar-denominated tranche under the term loan facility.
Read More: Kraton intents to initiate term loan reprice, maturity extension
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