ICL Fire Safety business plans new debt for purchase by SK Capital

By Sara Rosenberg

New York, Dec. 8 – The Fire Safety and Oil Additives Business of Israel Chemicals Ltd. (ICL) plans on getting new debt financing to help fund its acquisition by SK Capital for about $1 billion, according to a news release.

Barclays, Goldman Sachs USA and HSBC Securities (USA) Inc. provided the debt commitment.

Closing is expected in the first half of 2018, before which a new trade name will be selected and announced for the company.

The transaction is subject to regulatory approvals and other customary conditions.

The ICL Fire Safety business is a St. Louis-based formulator and manufacturer of fire management chemicals.

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