Quaker is a $400 million dollar company based in Conshohocken, Pennsylvania announced that it has entered into a $100 million, five-year, unsecured syndicated multicurrency revolving credit facility.
The new facility currently allows for revolving credit borrowings in a principal amount of up to $100 million, which can be increased to $125 million should additional financing be required in the future. Bank of America, N.A, arranged the syndicate that includes five banks.
The Company plans to utilize the facility to consolidate existing short- term loans as well as for other general corporate purposes.
Ronald J. Naples, Chairman and Chief Executive Officer, commented, "They are pleased to have availed ourselves of an attractive lending environment to secure five-year financing under very favorable terms. This financing fits very well into their capital structure, providing flexibility and important access to funding to support the Company's growth initiatives and its status as an industry leader."
Quaker Chemical Corporation, headquartered in Conshohocken, Pennsylvania, is a worldwide developer, producer, and marketer of custom-formulated chemical specialty products and a provider of chemical management services for manufacturers around the globe, primarily in the steel and automotive industries.
Quaker Chemical Corporation
marketing@alchempro.com
