HOUSTON, Dec. 13, 2016 /PRNewswire/ -- Kraton Corporation (NYSE: KRA), a leading global producer of styrenic block copolymers, specialty polymers, and value-added specialty products primarily derived from renewable sources, announced that it has successfully allocated a re-pricing of its $1.278 billion term loan. The interest rate on the amended term loan will be LIBOR plus 4.00%, a 1.00% reduction from the previous interest rate of LIBOR plus 5.00%. The terms of the term loan will be substantially similar to the existing term loan. The transaction is expected to close on or about January 9, 2017, subject to customary closing conditions.
ABOUT KRATON CORPORATION
Kraton Corporation (NYSE: KRA) is a leading global producer of styrenic block copolymers, specialty polymers and high-value performance products derived from renewable sources. Kraton's polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. As the largest global provider in the pine chemicals industry, the company's pine-based specialty products are sold into adhesive, road and construction and tire markets, and it produces and sells a broad range of chemical intermediates into markets that include fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks, flavors and fragrances and mining. Kraton offers its products to a diverse customer base in numerous countries worldwide.