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Taminco gets lower interest rate on senior loans

11:02 AM MST | February 5, 2014 | Vincent Valk

Taminco today announced that it is exercising an amendment to its senior secured credit facility that will reduce interest payments by $5 million/year. The amendment cuts the interest rate on the company’s senior secured credit lines by 100 basis points. The credit lines, which consist of a $504 term loan and a $194 million revolving credit facility, carry interest rates based on the US federal funds rate, LIBOR, or the Citigroup’s prime lending rate, whichever is higher. The repricing “secures the financing of our recent formic acid solutions...

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