Westlake Chemical Concludes Revolving Credit Agreement
Sep 19, 2011, 06:00 ET
HOUSTON, Sept. 19, 2011 /PRNewswire/ -- Westlake Chemical Corporation (NYSE: WLK) announced today the successful completion of a second amendment and restatement of its $400 million revolving credit agreement, thereby extending the maturity to 2016, reducing interest costs, and increasing financial flexibility.
"We are pleased to have completed this agreement as it increases our company's financial flexibility and provides the liquidity to fund our growth," said Albert Chao, Westlake's President and Chief Executive Officer. "This is a strong statement of support from our banks, and we appreciate their ongoing confidence in us."
Westlake Chemical Corporation (WLK)
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC resin and PVC building products including pipe, windows and fence. For more information, including career opportunities, visit the company's Web site at http://www.westlake.com.
The statements in this release relating to the amended and restated credit agreement, as well as any other matters that are not historical facts, are forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially. For more detailed information about factors that could cause actual results to differ materially, please refer to Westlake's Annual Report on Form 10-K for the year ended December 31, 2010, which was filed in February 2011.
SOURCE Westlake Chemical Corporation
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