Rockwood Specialties terminates credit agreement with Credit Suisse

By Marisa Wong

Madison, Wis., Sept. 23 - Rockwood Specialties Group, Inc., an indirect subsidiary of Rockwood Holdings, Inc., terminated its credit agreement dated Feb. 10, 2011 with Credit Suisse AG, Cayman Islands Branch as administrative agent and collateral agent and KKR Capital Markets LLC as syndication agent, according to an 8-K filing with the Securities and Exchange Commission.

Effective Sept. 20, all commitments under the credit agreement were terminated and all obligations to the lenders were discharged, including those under revolving credit commitments.

As previously disclosed, Rockwood repaid all amounts outstanding under its senior secured term loans on Sept. 4.

The company announced in a Sept. 17 press release that it repaid more than $1.43 billion of secured term loans in conjunction with selling its titanium dioxide pigments and four other non-strategic businesses to Huntsman Corp.

Rockwood is a Princeton, N.J.-based specialty chemicals and advanced materials company.

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