Ecovyst Completes ABL Facility Amendments
Ecovyst Inc. (NYSE: ECVT) has announced successful amendments to its ABL credit agreement through its subsidiary, Ecovyst Catalyst Technologies The Amended ABL Facility maintains its $100 million value and extends the term by over three years to April 2030.
The facility will bear interest at Term SOFR or base rate plus a margin of 1.25% - 1.75% or 0.25% - 0.75% respectively. This amendment follows January 2025's Term Loan Facility modification, which reduced interest rate spread by 25 basis points to Term SOFR plus 2.00% per annum.
According to CFO Mike Feehan, these changes are expected to enhance financial flexibility, reduce credit risk, lower borrowing costs, and improve liquidity.
Ecovyst Inc. (NYSE: ECVT) ha annunciato modifiche di successo al suo accordo di credito ABL attraverso la sua controllata, Ecovyst Catalyst Technologies. Il Facility ABL Modificato mantiene il suo valore di 100 milioni di dollari e estende il termine di oltre tre anni fino ad aprile 2030.
Il prestito avrà un tasso d'interesse pari al Term SOFR o al tasso base più un margine del 1,25% - 1,75% o 0,25% - 0,75% rispettivamente. Questa modifica segue la modifica della Struttura di Prestito a Termine di gennaio 2025, che ha ridotto lo spread del tasso d'interesse di 25 punti base a Term SOFR più 2,00% all'anno.
Secondo il CFO Mike Feehan, questi cambiamenti dovrebbero migliorare la flessibilità finanziaria, ridurre il rischio di credito, abbassare i costi di finanziamento e migliorare la liquidità.
Ecovyst Inc. (NYSE: ECVT) ha anunciado enmiendas exitosas a su acuerdo de crédito ABL a través de su filial, Ecovyst Catalyst Technologies. La Instalación ABL Enmendada mantiene su valor de 100 millones de dólares y extiende el plazo por más de tres años hasta abril de 2030.
La instalación devengará intereses al Term SOFR o tasa base más un margen de 1.25% - 1.75% o 0.25% - 0.75% respectivamente. Esta enmienda sigue a la modificación de la Instalación de Préstamo a Plazo de enero de 2025, que redujo el diferencial de la tasa de interés en 25 puntos básicos a Term SOFR más 2.00% anuales.
Según el CFO Mike Feehan, se espera que estos cambios mejoren la flexibilidad financiera, reduzcan el riesgo crediticio, disminuyan los costos de endeudamiento y mejoren la liquidez.
Ecovyst Inc. (NYSE: ECVT)는 자회사인 Ecovyst Catalyst Technologies를 통해 ABL 신용 계약의 성공적인 수정 사항을 발표했습니다. 수정된 ABL 시설은 1억 달러의 가치를 유지하며, 기한을 3년 이상 연장하여 2030년 4월까지 연장합니다.
이 시설은 Term SOFR 또는 기준 금리에 각각 1.25% - 1.75% 또는 0.25% - 0.75%의 마진을 더한 이자를 부과합니다. 이 수정은 2025년 1월의 기간 대출 시설 수정에 이어지는 것으로, 이자율 스프레드를 25bp 줄여 Term SOFR에 연 2.00%를 더한 수준으로 조정되었습니다.
CFO Mike Feehan에 따르면, 이러한 변화는 재무 유연성을 향상시키고, 신용 위험을 줄이며, 차입 비용을 낮추고, 유동성을 개선할 것으로 예상됩니다.
Ecovyst Inc. (NYSE: ECVT) a annoncé des modifications réussies de son accord de crédit ABL par l'intermédiaire de sa filiale, Ecovyst Catalyst Technologies. La Facilité ABL Modifiée maintient sa valeur de 100 millions de dollars et prolonge le terme de plus de trois ans jusqu'à avril 2030.
La facilité portera un intérêt au taux Term SOFR ou au taux de base plus une marge de 1,25 % - 1,75 % ou 0,25 % - 0,75 % respectivement. Cette modification fait suite à la modification de la facilité de prêt à terme de janvier 2025, qui a réduit l'écart de taux d'intérêt de 25 points de base à Term SOFR plus 2,00 % par an.
Selon le CFO Mike Feehan, ces changements devraient améliorer la flexibilité financière, réduire le risque de crédit, diminuer les coûts d'emprunt et améliorer la liquidité.
Ecovyst Inc. (NYSE: ECVT) hat erfolgreiche Änderungen an seiner ABL-Kreditvereinbarung über seine Tochtergesellschaft Ecovyst Catalyst Technologies bekannt gegeben. Die Änderung der ABL-Einrichtung behält ihren Wert von 100 Millionen Dollar bei und verlängert die Laufzeit um mehr als drei Jahre bis April 2030.
Die Einrichtung wird Zinsen zu Term SOFR oder dem Basiszinssatz zuzüglich einer Marge von 1,25% - 1,75% oder 0,25% - 0,75% erheben. Diese Änderung folgt auf die Modifikation der Term-Darlehensfazilität im Januar 2025, die den Zinsspread um 25 Basispunkte auf Term SOFR plus 2,00% pro Jahr gesenkt hat.
Laut CFO Mike Feehan wird erwartet, dass diese Änderungen die finanzielle Flexibilität erhöhen, das Kreditrisiko senken, die Kreditkosten reduzieren und die Liquidität verbessern.
- Extension of ABL Facility term by over 3 years to April 2030
- Reduction in term loan interest rate spread by 25 basis points
- Expected reduction in borrowing costs
- Enhanced financial flexibility and liquidity
- None.
"We believe that amending and extending our ABL credit agreement in the current market environment will enhance our overall financial flexibility," said Mike Feehan, Chief Financial Officer at Ecovyst. "This amendment, combined with our recent term loan repricing in January, is expected to reduce our credit risk, lower our borrowing costs and enhance our liquidity."
As previously reported, in January 2025, Ecovyst amended its existing Term Loan Facility, reducing the interest rate spread applicable to its term loans by 25 basis points to Term SOFR plus
About Ecovyst (www.ecovyst.com):
Ecovyst Inc. and subsidiaries is a leading integrated and innovative global provider of advanced materials, specialty catalysts, sulfuric acid and sulfuric acid regeneration services. We support customers globally through our strategically located network of manufacturing facilities. We believe that our products, which are predominantly inorganic, and services contribute to improving the sustainability of the environment.
We have two uniquely positioned specialty businesses: Ecoservices provides sulfuric acid recycling to the North American refining industry for the production of alkylate and provides high quality and high strength virgin sulfuric acid for industrial and mining applications. Ecoservices also provides chemical waste handling and treatment services, as well as ex-situ catalyst activation services for the refining and petrochemical industry. Advanced Materials & Catalysts, through its Advanced Silicas business, provides finished silica catalysts, catalyst supports and functionalized silicas necessary to produce high performing plastics and to enable sustainable chemistry, and through its Zeolyst Joint Venture, innovates and supplies specialty zeolites used in catalysts that support the production of sustainable fuels, remove nitrogen oxides from diesel engine emissions and that are broadly applied in refining and petrochemical processes.
Note on Forward-Looking Statements
Some of the information contained in this press release constitutes "forward-looking statements." Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "projects," "aims" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Examples of forward-looking statements include, but are not limited to, statements related to our financial flexibility, reduction of credit risk, lowering of borrowing costs, and enhancing liquidity. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, regional, national or global political, economic, business, competitive, market and regulatory conditions, including tariffs and trade disputes, currency exchange rates, the effects of inflation and other factors, including those described in the sections titled "Risk Factors" and "Management's Discussion & Analysis of Financial Condition and Results of Operations" in our filings with the SEC, which are available on the SEC's website at www.sec.gov. These forward-looking statements speak only as of the date of this release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.
For more information:
Gene Shiels – Director of Investor Relations
(484) 617 1225
gene.shiels@ecovyst.com
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SOURCE Ecovyst Inc.
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