Chase gets upsized $200 million five-year revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Aug. 12 – Chase Corp. amended and restated its credit agreement to provide for an expanded $200 million revolver, up from $150 million, led by Bank of America, according to a news release.

Further, the maturity date was pushed out to July 27, 2026 from Dec. 15, 2021, and the accordion feature was doubled to $100 million.

Similar to the previous credit agreement, borrowings bear interest at Libor plus a range from 100 bps to 175 bps, depending on the company’s consolidated net leverage ratio.

“Under this new credit agreement, we obtained an increased revolving credit facility, which will continue to position us with adequate debt capital and available cash to execute our inorganic growth plans. In this competitive market, having immediate access to funds gives us an advantage in our acquisition program, putting us in the position to close transactions to fulfill our strategic initiatives,” said Chase president and chief executive officer Adam Chase in the release.

Chase manufactures protective materials and is based Westwood, Mass.

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