Kraton (KRA) Completes Amendments To Term Loan Facility

 | Mar 09, 2018 07:57AM ET

Kraton Corporation (NYSE:KRA) along with its fully-owned subsidiaries announced the closing of an amendment to its existing senior secured term loan facility.
The amendment increased borrowings under the Euro denominated tranche of this term loan by 150 million euros to 350 million euros. It also repriced the current term loans under the facility and extended maturity date of the term loan facility by roughly three years to Mar 8, 2025.
Proceeds from the additional borrowings under the Euro denominated tranche along with available cash in hand were used prepay $185 million of the then outstanding $485 million balance under the U.S. dollar denominated tranche.
Shares of Kraton have moved up 39.1% over the last six months, outperforming the 0.7% upside recorded by its

Kraton Corporation Quote

Zacks Rank & Stocks to Consider

Kraton currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the chemical space are LyondellBasell Industries N.V. (NYSE:LYB) , Arkema S.A. (OTC:ARKAY) and Methanex Corporation (NASDAQ:MEOH) .
LyondellBasell has an expected long-term earnings growth rate of 9% and sports a Zacks Rank #1 (Strong Buy). The company’s shares have moved up 21.8% in a year. You can see Zacks Investment Research
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Written By: Zacks Investment Research

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