PQ Group Holdings Announces Successful Pricing of Term Loan Facility and Entry Into Swap Arrangements
PQ Group Holdings, Inc (PQG)
Last pq group holdings, inc earnings: 2/20 06:15 am
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Source: Business Wire
MALVERN, Pa.--(BUSINESS WIRE)-- PQ Group Holdings Inc. (NYSE:PQG) (“PQ”), an integrated global provider of catalysts, specialty materials and chemicals, and services, announced today that its indirect, wholly owned subsidiary, PQ Corporation (the “Company”) has successfully secured commitments to refinance its existing senior secured term loan facility with a new, pre-payable senior secured term loan facility (the “New Term Loan Facility”) in an aggregate principal amount of $1.267 billion at a lower interest rate margin and with an extended maturity. The New Term Facility is expected to bear interest at a floating rate of LIBOR (with a zero percent minimum LIBOR floor) plus 2.50 percent per annum, and is expected to mature in February 2025. “This is yet another significant step in executing PQ’s financial strategy to drive shareholder value through a lower cost of capital, enhanced deleveraging path and
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