CSW Industrials closes on $250 million five-year revolving facility

By Tali Rackner

Norfolk, Va., Dec. 14 – CSW Industrials, Inc. said it closed on a $250 million five-year revolving credit facility on Monday, according to a press release.

Including a $50 million accordion feature, the new facility represents a $100 million increase compared to the company’s previously disclosed plans. This allows for greater financial flexibility to execute strategic priorities, CSW said.

Initial interest is Libor plus 175 basis points, representing a reduction from the weighted average rate of existing debt outstanding.

The company intends to use borrowings to refinance substantially all existing debt.

JPMorgan Chase Bank, NA and SunTrust Robinson Humphrey, Inc. arranged the deal.

CSW Industrials is a Dallas-based industrial growth company with platforms across three segments: industrial products; coatings, sealants and adhesives; and specialty chemicals.

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