Loan & DebtMay 29, 2026, 06:32 AM
Ashland Secures $500M Five-Year Revolving Credit Facility
AI Summary
Ashland Inc. has secured a new $500 million five-year revolving credit facility through a Second Amended and Restated Credit Agreement. This facility, which includes a $125 million letter of credit sublimit, replaces a previous agreement from 2022. The proceeds will be utilized for ongoing working capital and other general corporate purposes, with interest rates and fees varying based on the company's Consolidated Net Leverage Ratio.
Key Highlights
- Ashland Inc. entered into a Second Amended and Restated Credit Agreement on May 28, 2026.
- The agreement provides for a $500 million five-year revolving credit facility.
- The facility includes a $125 million letter of credit sublimit.
- It replaces the previous Amended and Restated Credit Agreement dated July 22, 2022.
- Interest rates are variable, initially Term SOFR/EURIBOR plus 1.375% or alternate base rate plus 0.375%.
- Unused facility fees initially 0.175% per annum, fluctuating between 0.125% and 0.275%.
- Proceeds will be used for ongoing working capital and general corporate purposes.
- The facility is unsecured and obligations of the Swiss Borrower are guaranteed by Ashland.
Price Impact
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