Bloomberg News

Momentive Specialty Seeks to Extend Loan Maturities by Two Years

March 01, 2012

Momentive Specialty Chemcials Inc (HXN). is seeking to extend maturities and boost the interest rate on senior secured debt facilities due in 2013 and 2015.

The provider of chemical products for the automotive, chemical, construction and transportation industries is looking to push out the maturity to March 2015 on loans due in May 2013 and to March 2017 on facilities maturing in May 2015, it said today in a regulatory filing. It may also delay the expiration of a line of credit to December 2014 instead of February 2013.

Momentive may issue new senior secured debt as part of the transaction, the Columbus, Ohio-based company said. Proceeds from the loan will be used to repay outstanding borrowings.

To contact the reporter on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.


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