Tronox closes $350M incremental term loan to repay revolver and fund capex

Tronox Holdings plc

$350M incremental term loan closed Aug 16, 2023, under existing credit agreement with HSBC as agent.
Proceeds to repay outstanding revolver borrowings and enhance liquidity for capex, mainly South Africa mining extension.
Net leverage neutral; nearest maturities remain 2028 and 2029.
Interest at SOFR +3.50% or base rate +2.50% (0.50% floor); final maturity Aug 16, 2028.
Amortization of 1.0% of original principal per annum, starting Q2 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tronox Holdings plc amended Amendment No. 3 to the Amended and Restated First Lien Credit Agreement dated March 11, 2021 with the incremental term lenders party thereto, and HSBC Bank USA, National Association, as Administrative Agent and Collateral Agent valued at $350,000,000 (effective 2023-08-16).

Action: amendment
Agreement: credit facility
Counterparty: the incremental term lenders party thereto, and HSBC Bank USA, National Association, as Administrative Agent and Collateral Agent
Value: $350,000,000
Effective: 2023-08-16

Exact text from the filing

On August 16, 2023, Tronox Finance LLC (the “Borrower”), an indirect subsidiary Tronox Holdings plc (the “Company”), together with the Company, certain of the Company’s subsidiaries entered into Amendment No. 3 to the Amended and Restated First Lien Credit Agreement dated March 11, 2021 (the “Amendment”) with, the incremental term lenders party thereto, and HSBC Bank USA, National Association, as Administrative Agent and Collateral Agent.

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Source: SEC EDGAR

accession 0001140361-23-040090

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