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Hilden [Germany], December 17 (ANI/PRNewswire): ASK Chemicals, a leading global supplier of high-performance industrial resins and materials, today announced that it has signed definitive agreements to refinance the company's existing senior secured credit facilities; consisting of a EUR190m senior secured term loan facility and a EUR25m senior secured multi-currency revolving credit facility. The new financing provides for a EUR225m senior secured term loan facility and a EUR40m senior secured multi-currency revolving credit facility. Closing of the refinancing is expected to occur in mid-January 2023.
Hubi Windegger, Chief Financial Officer of ASK Chemicals: "We are delighted to achieve this stage of the refinancing and associated extension of maturities. We believe this is a strong message of support from our lenders which reflects our resilient business performance and reduced leverage." Goldman Sachs Bank Europe SE acted as the sole mandated lead arranger and book runner on the financing. ASK Chemicals Group, headquartered in Hilden near Dusseldorf (Germany), is a global supplier of high-performance industrial resins and materials. The company's products are mainly used in foundries and in the production of abrasives, refractories, impregnation, coatings, insulation and composite materials. The Foundry division offers an exceptionally wide and innovative range of foundry consumables including binders, coatings, risers, filters, release agents as well as metallurgical products such as inoculants, inoculation wires and master alloys for iron casting. The Industrial Resins division is a leader in the field of speciality phenolic resins. Our phenolic resins are the preferred choice when it comes to meeting the highest requirements in the areas of fire protection, energy consumption, service lifetime, health and safety at work. The company has a production and sales network in 22 countries and employs approximately 2000 people worldwide. ASK Chemicals Group sees itself as a driving force of industry-specific innovations with research centres and laboratories in Europe, Asia, America and Africa. Contact:Verena SanderHead of Global Communications+49 211 71103-948Verena.Sander@ask-chemicals.com This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
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