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Element Solutions Enters Agreement In Principle On Pricing And Syndication For A $450M Add-On To Its Existing Senior Secured Term Loan B Due 2030

Benzinga · 11/20 20:38

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Element Solutions Inc (NYSE:ESI) ("ESI"), a global and diversified specialty technology company, announced today that it entered into an agreement in principle on pricing and syndication for a $450 million add-on to its existing senior secured term loan B due 2030 (the "Add-on"), subject to certain conditions. The Add-on has terms consistent with the existing term loan B tranche.

The Add-on remains subject to certain closing conditions, including the finalization and execution of definitive documentation. ESI intends to use the funds from the Add-on and cash on hand to finance the Micromax acquisition, which is expected to close in the first quarter of 2026, subject to certain regulatory approvals and customary closing conditions.

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