Platform Specialty Products Corporation Announces Pricing and Preliminary Syndication of New Term Loan B and Revolver
PLATFORM SPECIALTY PRODUCTS CO (PAH)
Last platform specialty products co earnings: 11/1 07:00 am
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US:NYSE Investor Relations:
ir.platformspecialtyproducts.com
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Source: GlobeNewswire
WEST PALM BEACH, Fla., Nov. 20, 2018 (GLOBE NEWSWIRE) -- Platform Specialty Products Corporation (NYSE:PAH) ("Platform"), a global specialty chemicals company, announced today that it had reached agreement in principle on pricing and syndication for a 7-year $750 million senior secured term loan B (the “Term Loan B”) and a 5-year $330 million senior secured revolving credit facility (the “Revolver” and together with the Term Loan B, the “Facilities”), subject to certain conditions. These Facilities remain subject to the closing of the previously announced sale of Platform’s Agricultural Solutions segment, Arysta LifeScience, to UPL Limited (the “Arysta Sale”), as well as the finalization and execution of definitive documentation for the Facilities. The proposed Facilities, along with Platform’s existing $800 million of 5.875% senior notes due 2025, issued in 2017, are expected to represent the debt capital structure of Element Solutions Inc (“Element Solutions”), the previously an
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