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Rockwood-Kemira TiO2 JV Refinances Debt

11:26 AM MDT | June 7, 2012 | Vincent Valk

Sachtleben (Duisburg, Germany), Rockwood and Kemira’s titanium dioxide (TiO2) joint venture, has entered into a new €430 million ($540 million) credit agreement consisting of two term loans and a revolving credit line, all of which mature in 2017. The term loans are each worth €200 million, while the credit line is worth €30 million. The new credit will be used to pay back outstanding borrowings on the jv’s existing credit line and to pay a dividend to Rockwood and Kemira.   The new credit “is an important strategic step...

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