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Barclays, Credit Suisse Among Lenders in Innospec’s $200MM Facility

November 10, 2015, 07:33 AM
Filed Under: Chemicals

Innospec, Inc. has successfully closed on an amendment to its multi-currency revolving credit agreement with a group of lenders, comprising Barclays Bank PLC, Credit Suisse AG, Lloyds Bank plc, The Royal Bank of Scotland plc, U.S. Bank National Association and Wells Fargo Bank N.A. The secured facility provides for the availability of $200 million in credit for a five-year term, through 2020. In addition, the amendment allows the company to request a further amount of up to $50 million to be committed by the group of lenders.

Commenting on the refinancing, Patrick S. Williams, President and Chief Executive Officer of Innospec, said, "We are very pleased to complete this refinancing with improved terms, which demonstrates the confidence our banking group has in the strength of our business and its future prospects for growth and profitability. The credit facility will support the continued development of our strategy and facilitate the growth and expansion of our business."

Innospec Inc. is an international specialty chemicals company with approximately 1300 employees in 20 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.

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