KMG Chemicals retires $20 million 7.43% Prudential term notes due 2014

By Tali Rackner

Norfolk, Va., Oct. 9 – KMG Chemicals, Inc. retired its $20 million 7.43% Prudential term notes due Dec. 31, 2014, according to a company news release.

In paying off the term notes, the company said it expects to reduce annual run-rate interest expense by more than $1 million.

The transaction was funded with the proceeds from a new $150 million revolving credit facility.

KMG Chemicals is a Houston company that manufactures, formulates and distributes specialty chemicals.

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