Tronox Announces Closing of Incremental Term Loan

Tronox Holdings plc (NYSE: TROX; the “Company”), the world’s leading integrated manufacturer of titanium dioxide pigment, today announced the closing of its $350 million incremental term loan under the Company’s existing credit agreement, the proceeds of which are expected to be used to repay outstanding borrowings under the Company’s existing revolving credit facilities and enhance available liquidity for upcoming capital expenditures.

“With the close of the transaction today, we have increased total available liquidity by approximately $350 million, while net leverage remained neutral,” said John Srivisal, senior vice president and chief financial officer. “This transaction preserves the ability for Tronox to prepay outstanding debt ahead of our nearest significant maturities, which remain 2028 and 2029, to reach our long-term gross debt target of $2.0 billion. The enhanced liquidity and incremental cash on hand will allow us to proceed with key capital investments in the business in the near term, primarily the mining extension projects for mines reaching end-of-life in South Africa. This will enable us to continue to realize the benefits from our vertically integrated portfolio, including internally sourced high-grade feedstock, as well as maintaining zircon production, which is a key co-product in our portfolio.”
https://www.tronox.com/tronox-announces-closing-of-incremental-term-loan/

Related Posts

Mohawk Launches New Sustainable Promotion Titled “The Material is The Message”

In October 2021, Mohawk Fine Papers, Inc., North America’s largest privately owned manufacturer of fine papers and envelopes, introduced Paper With a Plan: A new attribute-driven approach to specifying paper. Mohawk refined and reorganized its paper portfolio into 5 distinct Collections that help make choosing paper by its properties and attributes easier. Mohawk’s paper grades are now grouped into the Beautiful, Sustainable, Expressive, Elevated, and Practical Collections. Mohawk recognizes that sustainability has never been more important to brand storytelling. As sustainability stories have become more sophisticated, so have the material inputs used that drive their narratives. Experience Mohawk’s Sustainable papers as they were intended with the release of the “The Material is the Message” inspiration piece.

UPM Raflatac opens a new slitting and distribution terminal in Mumbai, India

UPM Raflatac, a global supplier of innovative and sustainable self-adhesive paper and film products, opens a new slitting and distribution terminal in Mumbai, India. The new facility further improves service and quality to UPM Raflatac’s customers and strengthens the relationships in the region. “Our talented team has created a great workplace for our employees, a great facility to serve our customers and a great platform for growth. With the new modern facility, we can stock more material locally which will optimize lead times, enhance service, and help meet the diverse and dynamic needs of our customers,“ says Alan Wright, Senior Vice President, EMEIA Region, UPM Raflatac. The new Mumbai terminal, operational since February, will soon see the addition of another slitting machine. Its strategic central location extends UPM Raflatac’s reach across the country.

Glatfelter Reports Second Quarter 2017 Results

Glatfelter reported a net loss of $5.7 million, or $0.13 per share for the second quarter of 2017 compared with net income of $2.0 million, or $0.04 per diluted share in the second quarter of 2016. On an adjusted earnings basis, the loss for the second quarter of 2017 was $2.6 million, or $0.06 per share compared with adjusted earnings of $2.8 million, or $0.06 per diluted share, for the same period a year ago. Consolidated net sales totaled $387.3 million and $406.4 million for the three months ended June 30, 2017 and 2016, respectively. In the Composite Fibers and Advanced Airlaid Materials business units, net sales increased by 1.4% and 4.9%, respectively, on a constant currency basis. Specialty Papers’ net sales declined 8.6% in the quarter-over-quarter comparison. Click Read More below for additional details.
Back To Top
×Close search
Search