Arch Chemicals Closes on $100 Million Term Loan Facility
17 Febbraio 2009 - 3:18PM
Business Wire
Arch Chemicals, Inc. (NYSE: ARJ) announced the successful
completion of a new unsecured $100 million term loan facility with
Banc of America Securities LLC and Greenwich Capital Markets, Inc.
as joint lead arrangers and joint book managers. The facility will
mature on June 15, 2011, the same date the Company�s existing $350
million revolving credit facility expires.
The Company used the loan proceeds to pay down a portion of the
revolving credit facility, thus providing additional liquidity in
advance of the March 2009 maturity of its $62 million senior
notes.
�We�re extremely pleased to have completed this new financing
arrangement in today�s challenging economic and credit
environment,� said Arch Chemicals� Vice President and CFO Steven C.
Giuliano. �Our ability to add liquidity provides us with greater
flexibility and reaffirms the value of our core Biocides portfolio
and its long-term, profitable growth prospects,� Mr. Giuliano
added.
About Arch
Headquartered in Norwalk, Connecticut (USA), Arch Chemicals,
Inc. is a global Biocides company with 2008 sales of approximately
$1.5 billion. Arch and its subsidiaries provide innovative,
chemistry-based solutions to control the growth of harmful
microbes. The Company�s concentration is in water treatment, hair
and skin care products, treated wood, paints and coatings, building
products and health and hygiene applications. Arch Chemicals
operates in two segments: Treatment Products and Performance
Products. Together with its subsidiaries, Arch has approximately
3,000 employees and manufacturing and customer-support facilities
in North and South America, Europe, Asia, Australia and Africa. For
more information, visit the Company�s Web site at
http://www.archchemicals.com.
Except for historical information contained herein, the
information set forth herein may contain forward-looking statements
that are based on management's beliefs, certain assumptions made by
management and management's current expectations, outlook,
estimates and projections about the markets and economy in which
the Company and its various businesses operate. Words such as
�anticipates,� �believes,� �estimates,� �expects,� �forecasts,�
�intends,� �opines,� �plans,� �predicts,� �projects,� �should,�
�targets� and variations of such words and similar expressions are
intended to identify such forward-looking statements. These
statements are not guarantees of future performance and involve
certain risks, uncertainties and assumptions (�Future Factors�),
which are difficult to predict. Therefore, actual outcomes and
results may differ materially from what is expected or forecasted
in such forward-looking statements. The Company undertakes no
obligation to update publicly any forward-looking statements,
whether as a result of future events, new information or otherwise.
Future Factors which could cause actual results to differ
materially from those discussed include but are not limited to:
general economic and business and market conditions; continued
weakening in U.S., European and Asian economies; increases in
interest rates; changes in foreign currencies against the U.S.
dollar; customer acceptance of new products; efficacy of new
technology; changes in U.S. or foreign laws and regulations;
increased competitive and/or customer pressure; the Company's
ability to maintain chemical price increases; higher-than-expected
raw material and energy costs and availability for certain chemical
product lines; a change in the antidumping duties on certain
products; price increases due to changes in Chinese taxes related
to exports from China; increased foreign competition in the calcium
hypochlorite markets; inability to obtain transportation for our
chemicals; unfavorable court decisions, including unfavorable
decisions in appeals of antidumping rulings, arbitration or jury
decisions or tax matters; the supply/demand balance for the
Company's products, including the impact of excess industry
capacity; failure to achieve targeted cost-reduction programs;
capital expenditures in excess of those scheduled, such as the
China plant; environmental costs in excess of those projected; the
occurrence of unexpected manufacturing interruptions/outages at
customer or Company plants; a decision by the Company not to start
up the hydrates manufacturing facility; unfavorable weather
conditions for swimming pool use; inability to expand sales in the
professional pool dealer market; the impact of global weather
changes; changes in the Company�s stock price; ability to obtain
financing at attractive rates; financial market disruptions that
impact our customers or suppliers; and gains or losses on
derivative instruments.
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