Brief: Element Solutions Inc Completes Syndication Of $1.15 bln Term Loans

Element Solutions

18/12/2023 22:29

Dec 18 (Reuters) - Element Solutions Inc  ESI.N :
    * ELEMENT SOLUTIONS INC COMPLETES SYNDICATION OF $1.15
BILLION
TERM LOANS AND REDUCES DEBT BALANCE
    * ELEMENT SOLUTIONS INC - MONETIZED EXISTING INTEREST RATE
AND
CROSS-CURRENCY SWAP AGREEMENTS INITIALLY SCHEDULED TO MATURE IN
2024 AND 2026
    * ELEMENT SOLUTIONS INC - NEW SWAPS ARE SET TO MATURE IN
2028
    * ELEMENT SOLUTIONS INC - BALANCE OF $390 MILLION REMAINS
SUBJECT
TO EXISTING SWAPS SCHEDULED TO MATURE IN 2025
    * ELEMENT SOLUTIONS INC - NEW TERM LOAN B-2 TRANCHE HAS
SUBSTANTIALLY SAME TERMS AS FORMER TERM LOAN B-1 TRANCHE
    * ELEMENT SOLUTIONS INC - ENTERED INTO NEW INTEREST RATE AND
CROSS-CURRENCY SWAP AGREEMENTS
    * ELEMENT SOLUTIONS - NEW DEAL CONVERTED U.S.$760 MILLION OF
TERM
LOAN B-2 TRANCHE INTO FIXED-RATE EURO-DENOMINATED DEBT AT FIXED
EUR ALL-IN RATE OF 4.31%

Source text for Eikon:  ID:nBw3krtTna 
Further company coverage:  ESI.N 

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