People & Business :: Earnings/Finance
Cytec Amends Credit Agreement
2:20 PM MDT | June 27, 2011 | Vincent Valk
Cytec has renewed its $400 million credit agreement with some amendments, the company says. A $25 million swing line loan was added to the agreement, and the maturity was extended to June 2016. A swing line loan is similar to a credit line, but must be used to pay down other debt. Cytec may also increase the size of the credit line to $500 million and extend the maturation date to June 2019, provided the company meets the agreement's covenants, the company...
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