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Quaker Chemical Secures $550 Million 7-Year Term Loan Facility with JPMorgan
Quaker Chemical has secured a $550 million senior secured seven-year term loan B facility from JPMorgan Chase Bank and other lenders to refinance its outstanding U.S. term loans. This new facility will mature on October 1, 2033.
The loan bears interest at Term SOFR plus 1.75% or the Base Rate plus 0.75%, with quarterly amortization of 0.25% of principal. The agreement also includes customary covenants and mandatory prepayments tied to excess cash flow and asset sales.
Proceeds from this new loan were used to fully repay Quaker Chemical's prior U.S. term loans, providing the company with enhanced financial flexibility.