WAYNE,
Pa., April 11, 2025 /PRNewswire/ -- Ecovyst
Inc. (NYSE: ECVT), a leading integrated and innovative global
provider of advanced materials, specialty catalysts, virgin
sulfuric acid and sulfuric acid regeneration services ("Ecovyst"),
announced today that its indirect, wholly owned subsidiary, Ecovyst
Catalyst Technologies LLC, has successfully amended its existing
ABL credit agreement (the "Amended ABL Facility"). The Amended ABL
Facility remains at $100 million and
was, among other things, extended by over three years to
April 2030. The Amended ABL Facility
will bear interest at a rate equal to the forward-looking term rate
based on the secured overnight financing rate as administered by
the Federal Reserve Bank of New
York ("Term SOFR") or the base rate plus a margin of between
1.25% - 1.75% or 0.25% - 0.75%, respectively, per annum.
"We believe that amending and extending our ABL credit agreement
in the current market environment will enhance our overall
financial flexibility," said Mike
Feehan, Chief Financial Officer at Ecovyst. "This amendment,
combined with our recent term loan repricing in January, is
expected to reduce our credit risk, lower our borrowing costs and
enhance our liquidity."
As previously reported, in January
2025, Ecovyst amended its existing Term Loan Facility,
reducing the interest rate spread applicable to its term loans by
25 basis points to Term SOFR plus 2.00% per annum.
About Ecovyst (www.ecovyst.com):
Ecovyst Inc. and subsidiaries is a leading integrated and
innovative global provider of advanced materials, specialty
catalysts, sulfuric acid and sulfuric acid regeneration services.
We support customers globally through our strategically located
network of manufacturing facilities. We believe that our products,
which are predominantly inorganic, and services contribute to
improving the sustainability of the environment.
We have two uniquely positioned specialty businesses:
Ecoservices provides sulfuric acid recycling to the North American
refining industry for the production of alkylate and provides high
quality and high strength virgin sulfuric acid for industrial and
mining applications. Ecoservices also provides chemical waste
handling and treatment services, as well as ex-situ catalyst
activation services for the refining and petrochemical industry.
Advanced Materials & Catalysts, through its Advanced Silicas
business, provides finished silica catalysts, catalyst supports and
functionalized silicas necessary to produce high performing
plastics and to enable sustainable chemistry, and through its
Zeolyst Joint Venture, innovates and supplies specialty zeolites
used in catalysts that support the production of sustainable fuels,
remove nitrogen oxides from diesel engine emissions and that are
broadly applied in refining and petrochemical processes.
Note on Forward-Looking Statements
Some of the information contained in this press release
constitutes "forward-looking statements." Forward-looking
statements can be identified by words such as "anticipates,"
"intends," "plans," "seeks," "believes," "estimates," "expects,"
"projects," "aims" and similar references to future periods.
Forward-looking statements are based on our current expectations
and assumptions regarding our business, the economy and other
future conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict. Examples of
forward-looking statements include, but are not limited to,
statements related to our financial flexibility, reduction of
credit risk, lowering of borrowing costs, and enhancing liquidity.
Our actual results may differ materially from those contemplated by
the forward-looking statements. We caution you, therefore, against
relying on any of these forward-looking statements. They are
neither statements of historical fact nor guarantees or assurances
of future performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include, but are not limited to, regional, national or
global political, economic, business, competitive, market and
regulatory conditions, including tariffs and trade disputes,
currency exchange rates, the effects of inflation and other
factors, including those described in the sections titled "Risk
Factors" and "Management's Discussion & Analysis of Financial
Condition and Results of Operations" in our filings with the SEC,
which are available on the SEC's website at www.sec.gov. These
forward-looking statements speak only as of the date of this
release. Factors or events that could cause our actual results to
differ may emerge from time to time, and it is not possible for us
to predict all of them. We undertake no obligation to update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
applicable law.
For more information:
Gene
Shiels – Director of Investor Relations
(484) 617 1225
gene.shiels@ecovyst.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ecovyst-completes-abl-facility-amendments-302426178.html
SOURCE Ecovyst Inc.
