Quaker Chemical Corporation entered into a multicurrency senior secured credit facility with Bank of America, N.A., as administrative agent, U.S. dollar swing line lender, and letter of credit issuer, in addition to other lender parties. The $1.15 billion credit facility consists of a $600 million term loan, a term loan in Euros in an amount equal to $150 million and a $400 million revolving facility. Wholly-owned subsidiary Quaker Chemical B.V. is also a borrower under the facility, and the facility is guaranteed by certain of Quaker Chemical Corporation's domestic subsidiaries and is secured by first priority liens on substantially all of the assets of the company and the subsidiary guarantors, subject to certain customary exclusions.
Our firm represented Quaker Chemical Corporation in the transaction.
