Arch Chemicals closes new $ 375 million credit facility
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Arch Chemicals closes on new $ 375 million credit facility

4:48 PM, 19th May 2011
Arch Chemicals closes on new $ 375 million credit facility

 

NORWALK, US: Arch Chemicals Inc has successfully completed a new, unsecured five-year $ 375 million credit facility which replaced its unsecured $ 350 million credit facility thatg was scheduled to expire in June 2011.  The new facility will be used for general purposes.

“We’re extremely pleased to have closed on this facility, which was oversubscribed and are gratified by the support of our bank group and their confidence in our prospects for continued profitable growth. This refinancing, coupled with the $ 325 million of senior notes we have issued in the last two years and our $ 80 million accounts receivable securitization facility, provides us with financial flexibility to fund acquisitions, to make investments that drive organic growth and to support the global expansion of our core Biocides businesses,” said Steven C Giuliano, Senior Vice President and CFO, Arch Chemicals.

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