Rockwood repays all $893.5 million of senior secured term loans

By Tali David

Minneapolis, Sept. 6 - Rockwood Holdings, Inc. has repaid all $893.5 million of outstanding term loans under its senior secured credit agreement as of Wednesday, according to a press release.

The debt consisted of $306.25 million of term loan A and $587.25 million of term loan B.

The interest rate on term loan A was Libor plus 225 basis points, and the interest rate on term loan B was Libor plus 275 bps with a Libor floor of 100 bps.

Including this repayment, Rockwood said it has reduced its total principal debt balance by more than $1.43 billion during the year to date. This includes repayments of $13.1 million and $17.5 million on Feb. 22 and Aug. 22, respectively, related to the Rockwood senior secured facility, and roughly $507 million on March 22 related to the Sachtleben secured facility.

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

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