Kronos Worldwide completes new US$350M senior secured term loan B; US$170M of net proceeds will be used to prepay outstanding principal balance of company's note payable to Contran, remaining net proceeds will be used for general corporate purposes
February 19, 2014
– Kronos Worldwide, Inc. (KRO) today announced it has completed a new $350 million senior secured term loan B. The Company used $170 million of the net proceeds of the new term loan to prepay the outstanding principal balance of the Company`s note payable to Contran Corporation (along with accrued and unpaid interest through the prepayment date), and such note payable was cancelled. The remaining net proceeds of the $350 million term loan will be used for general corporate purposes.
Kronos Worldwide, Inc. is a major international producer of titanium dioxide products.