Innospec extends revolver to 2020, adds $50 million accordion feature

By Tali Rackner

Norfolk, Va., Nov. 9 – Innospec Inc. and certain subsidiaries closed on an amendment to its $200 million multi-currency revolving credit agreement on Friday, extending the term through November 2020, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the company is now permitted request an additional amount of up to $50 million.

The amendment also relaxed the leverage financial covenant to 3 times from 2.5 times.

Lloyds Bank plc is the agent and security agent. Barclays Bank plc, Credit Suisse AG, Royal Bank of Scotland plc, Lloyds Bank, Wells Fargo Bank, NA and U.S. Bank NA are mandated lead arrangers.

Innospec is a Littleton, Colo.-based specialty chemicals company.

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