Media release

Nouryon completes repricing of its term loans

27 Jan 2020 - News

Nouryon has completed a repricing of its Euro and US Dollar term loans, reducing its annual interest payments by approximately €18.5 million. The successful repricing was enabled by the company’s solid financial performance in 2019.

The repricing, which was completed on January 24, covers the company’s currently outstanding €1,790 million Euro Term Loan B and $4,197 million US Dollar Term Loan B, each due October 2025. Interest rates were reduced by 50 basis points on the Euro loan and 25 basis points on the US Dollar loan.

“This has been a very successful repricing with a high level of interest from lenders, reflecting Nouryon’s strong cash generation and growth in EBITDA,” said Renier Vree, Nouryon’s Chief Financial Officer.

The repricing follows a previous voluntary debt prepayment of $110 million (equivalent to approximately €100 million) on its US Dollar Term Loan B, made in the fourth quarter of 2019. That amount, combined with scheduled repayments, took the company’s total debt reduction in 2019 to $143 million (equivalent to approximately €130 million).

“We will continue to look at ways to reduce our leverage while maintaining ample liquidity,” Vree said. “We will also continue to invest in attractive capacity expansions and selected bolt-on acquisitions to support the growth of our customers,” he added.

About Nouryon

Nouryon is a global, specialty chemicals leader. Markets and consumers worldwide rely on our essential solutions to manufacture everyday products, such as personal care, cleaning goods, paints and coatings, agriculture and food, pharmaceuticals, and building products. Furthermore, the dedication of approximately 8,200 employees with a shared commitment to our customers, business growth, safety, sustainability and innovation has resulted in a consistently strong financial performance. We operate in over 80 countries around the world with a portfolio of industry-leading brands.

We respect your privacy.

We use essential and non-essential cookies to provide, secure, analyze and improve our services. Click 'Agree' to accept or edit your preferences or learn more about our Cookie Policy.

You can change settings at any time.

Edit preferences