Element Solutions adds $400M term loan to fund Coventya acquisition; swaps to euro

Element Solutions Inc

Borrowed $400M new USD term loans under existing $750M tranche B; total credit facilities now $1.48B.
Proceeds used to finance portion of Coventya acquisition (~€420M), which closed on Sept 1, 2021.
New USD term loans bear interest at LIBOR +2.00%; mature Jan 31, 2026.
Entered swap agreements converting $400M USD debt into €340M fixed-rate euro debt, maturing Jan 31, 2025.
Credit agreement covenants restrict dividends, additional debt, and other activities.

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