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BRIEF-KMG Chemicals Inc enters into a new credit agreement
June 15, 2017 / 8:48 PM / 2 months ago

BRIEF-KMG Chemicals Inc enters into a new credit agreement

June 15 (Reuters) - KMG Chemicals Inc:

* KMG Chemicals Inc - on June 15, 2017, co entered into a new credit agreement

* KMG Chemicals-credit agreement provides for 7 year syndicated senior secured term loan of $550 million, 5year senior secured revolving credit facility of $50 million

* KMG Chemicals Inc - credit agreement and related loan documents replace the company’s prior second amended and restated credit agreement

* KMG Chemicals Inc - prior credit facility, and all commitments thereunder, were terminated effective June 15, 2017

* KMG Chemicals Inc - proceeds from the term loan under the credit agreement was used to finance the acquisition of Flowchem Holdings LLC, related costs

* KMG Chemicals Inc - proceeds from tern loan also used to repay in full $31 million outstanding indebtedness under prior credit facility Source text:(bit.ly/2sfZUb9) Further company coverage:

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