Quaker Houghton closes $550M 7-year Term Loan B at SOFR+175bps, repaying U.S. Term Loans

QUAKER CHEMICAL CORP

New senior secured U.S. dollar Term Loan B facility of $550 million matures October 1, 2033; priced at Term SOFR + 1.750% or Base Rate + 0.750%.
Proceeds repay in full existing U.S. Term Loans, whose aggregate principal balance was $0 as of the amendment's effective date; Quaker Houghton calls it a leverage-neutral transaction.
Quarterly amortization of 0.25% of initial principal with balance due at maturity; 1.00% prepayment premium applies to repricing events within six months of October 1, 2026.
Mandatory excess-cash-flow prepayments step down with leverage: 50% above 3.75x, 25% at or below 3.75x but above 3.25x, 0% at or below 3.25x, with a $30M annual threshold.
CEO Joseph Berquist said the deal extends the debt maturity profile and cuts required annual debt payments; JPMorgan Chase Bank, N.A. is administrative agent for the facility.

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