Innospec plans $150 million loan for purchase of Huntsman business

By Sara Rosenberg

New York, Aug. 5 – Innospec Inc. has received a commitment for a $150 million term loan to help fund its acquisition of the European Personal Care and Home Care business of Huntsman Corp., according to an 8-K recently filed with the Securities and Exchange Commission.

Barclays, Credit Suisse AG, Lloyds Bank plc, National Westminster Bank plc, Wells Fargo Bank and U.S. Bank are the mandated lead arrangers on the deal, and Lloyds is the facility agent.

Under the agreement, the European Personal Care and Home Care business, which is based in Belgium, is being bought for $200 million.

Other funds for the transaction will come from existing cash.

Closing is expected early in the fourth quarter.

Innospec is an Englewood, Colo.-based specialty chemicals company.

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