People & Business :: Companies
Rockwood pays down all Sachtleben debt
10:17 AM MDT | March 22, 2013 | Vincent Valk
Rockwood said today that it has paid down all of Sachtleben’s outstanding borrowings, totaling $508.9 million. The borrowings include 2 term loans, which interest rates of the Euribor bank rate plus 3.75% and 4%, respectively, and a revolving credit facility. “This repayment of debt furthers our progress towards two of our stated goals for 2013—our commitment to deleverage and to facilitate the divestiture process for Sachtleben,” says Rockwood chairman and CEO Seifi Ghasemi. Rockwood bought out Kemira’s 39% stake in...
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