Quaker Houghton Closes New 7-Yr U.S. Dollar-Denominated Term Loan B Facility With Aggregate Principal Amount Of $550M
Benzinga Newsdesk 1 month ago
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Quaker Houghton (NYSE:KWR), the global leader in industrial process fluids, announced today that it has successfully closed on a new 7-year U.S. dollar-denominated Term Loan B facility with an aggregate principal amount
Quaker Houghton (NYSE:KWR), the global leader in industrial process fluids, announced today that it has successfully closed on a new 7-year U.S. dollar-denominated Term Loan B facility with an aggregate principal amount of $550 million. The Term Loan B amends the Company's existing Credit Agreement, and proceeds will be used to repay in full the U.S. Term Loans outstanding under that agreement.
The Term Loan B matures in October 2033 and is priced at SOFR +175 basis points. Quarterly amortization payments will equal 0.25% of the initial aggregate principal amount of the loan, with the balance due at maturity.