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JPMorgan, Others Arrange Kraton Term Loan Refi

March 13, 2018

Kraton Corporation amended its existing senior secured term loan facility. JP Morgan, Deutsche Bank and Credit Suisse acted as joint lead arrangers and joint bookrunners on the transaction.

The amendment, among other things, included:

  • Increased borrowing under the Euro-denominated tranche of the term loan facility by €150 million ($185.031 million) to €315 million ($388.565 million)
  • A re-priced Euro tranche from EURIBOR plus 2.50% to EURIBOR plus 2.00%, with a 0.75% floor, and re-priced the U.S. dollar denominated tranche of the term loan facility from LIBOR plus 3.00% to LIBOR plus 2.50%, with a 1.00% floor
  • An extension of the maturity date of the facility from January 6, 2022 to March 8, 2025.

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