02/15/2011

www.gupta-verlag.de/thermoplastic-elastomers

Kraton announces completion of refinancing transactions

An offering of USD 250 million in aggregate principal amount of 6.75% Senior Notes due 2019 through an institutional private placement, which represents an upsizing of USD 50 million from the previously announced amount.A new USD 350 million senior secured credit facility, consisting of an USD 200 million five-year senior secured revolving credit facility and an USD150 million five-year senior secured term loan facility. The new revolver, which will be undrawn at close, replaces the Company's existing USD 80 million facility.The proceeds from the 6.75% Senior Notes, together with the proceeds from the USD 150 million senior secured term loan facility and available cash, are being used to refinance substantially all of the company's existing indebtedness, to pay accrued and unpaid interest, to pay related fees and expenses and to pay tender premiums with respect to the company's existing indebtedness.Commenting on the transactions, Stephen E. Tremblay, Kraton's Vice President and CFO stated, "We are extremely pleased to announce the successful completion of our notes offering and the refinancing of our existing bank facilities. Through these transactions we have extended our debt maturity profile and increased our financial flexibility, thereby allowing greater latitude for future growth, and we believe we have accomplished these objectives under extremely attractive rates, terms and conditions."

www.gupta-verlag.de/thermoplastic-elastomers