Kraton Polymers issues debt to fund Arizona Chemical deal

摘要

Kraton Performance Polymers is issuing $440 million in bonds; a $1.35-billion first lein term loan facility; and a $250-million, asset-based credit revolver, to help fund the acquisition of Arizona Chemical. The $1.3 7-billion acquisition deal closed on 7 January. The bonds will have an interest rate of 10.5% and mature in 2023. The term loan carries an interest rate of the London Interbank Offered Rate plus 500 basis points. Kraton drew $37 million from the new credit facility at the close of the deal.