Element Solutions closes ~$500M Micromax buy, raises $450M term loan, upsizes revolver

Amendment No. 10 provided for (i) an incremental term facility for new U.S. Dollar denominated term loans (the "New Term Loans") in an aggregate principal amount of $450 million with such New Term Loans established as an increase to, and fungible with, the Company's existing $836 million tranche B U.S. Dollar denominated term loans (the "Existing Term Loans" and together with the New Term Loans, the "Term Loans") and (ii) a new revolving credit facility in an aggregate principal amount of $500 million (the "New Revolving Credit Facility"), which replaced the $375 million revolving credit facility in effect immediately prior to the Effective Date (the "Initial Revolving Credit Facility"), thereby upsizing the Initial Revolving Credit Facility by $125 million and also extending its maturity to February 2, 2031.

Amendment No. 10 provided for (i) an incremental term facility for new U.S. Dollar denominated term loans (the "New Term Loans") in an aggregate principal amount of $450 million with such New Term Loans established as an increase to, and fungible with, the Company's existing $836 million tranche B U.S. Dollar denominated term loans (the "Existing Term Loans" and together with the New Term Loans, the "Term Loans") and (ii) a new revolving credit facility in an aggregate principal amount of $500 million (the "New Revolving Credit Facility"), which replaced the $375 million revolving credit facility in effect immediately prior to the Effective Date (the "Initial Revolving Credit Facility"), thereby upsizing the Initial Revolving Credit Facility by $125 million and also extending its maturity to February 2, 2031. The proceeds of the New Term Loans, together with available cash, were used to finance the purchase price of the previously-announced acquisition of Micromax, which closed on Febr

In connection with Amendment No. 10, the Company entered into new interest rate swaps and cross-currency swaps to effectively convert $350 million of the New Term Loans, a U.S. Dollar denominated debt obligation, into fixed-rate euro-denominated debt through December 2029.

Incremental Term Loans & Revolver Upsize On February 2, 2026 (the "Effective Date"), Element Solutions Inc (the "Company"), MacDermid, Incorporated ("MacDermid," and together with the Company, the "Borrowers"), certain subsidiaries of the Company party thereto, Citibank, N.A., as collateral agent and administrative agent (the "Agent"), and the lenders party thereto, entered into an Amendment No. 10 and Joinder to Credit Agreement ("Amendment No. 10"), which amends that certain credit agreement, dated as of January 31, 2019 (as amended and/or supplemented from time to time, the “Credit Agreement”).