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People & Business :: Earnings/Finance
Innophos refinances credit facility
11:10 AM MST | December 27, 2012 | Vincent Valk
Innophos today announced a refinancing of its senior secured credity facility, raising the borrowing limit to $325 million. The facility now includes a $100-million term loan with a 1% quarterly interest rate, and a $225-million revolving credit line. The company can raise the amount available under the credit line to $275 million with the bank's approval, Innophos says. "This new credit facility allows us to lock in favorable market interest rates for the next five years and provides us additional capacity to support our strategic objectives, including our...
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