Ashland plans refinance senior notes due 2018

Ashland plans to refinance senior notes due 2018

11:16 AM, 16th May 2017
Ashland logo

COVINGTON, US: Ashland Global Holdings Inc (ASH) said that its indirect, wholly owned subsidiary, Ashland LLC is seeking to obtain a new $600 million 7-year senior secured term loan B facility to retire the company's 3.875 percent senior notes due 2018.

In addition, the company intends to refinance its existing $800 million senior unsecured revolving credit facility with a new $800 million 5-year senior secured revolving credit facility.

The company is also seeking to obtain new senior secured term loan A facilities, consisting of a new $250 million 3-year term loan A facility and a new $250 million 5-year term loan A facility, to finance a portion of the consideration for the company's previously announced, pending acquisition of Pharmachem Laboratories, Inc (Pharmachem).

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