Koppers Extends Credit Agreement
Adds Bank of Tokyo to Its Bank Syndicate
PITTSBURGH, PA -- (Marketwired) -- 04/02/13 -- Koppers Inc., a
subsidiary of Koppers Holdings Inc. (NYSE: KOP), has amended its
existing credit agreement with a syndicate of banks led by
Pittsburgh-based PNC Capital Markets LLC ("PNC") and co-led by RBS
Citizens N.A. and Banc of America Securities LLC as joint book
runners (the "Amendment"). The previous agreement that was due to
expire March 22, 2015, has been amended to extend the expiration to
March 27, 2018, while maintaining the capacity of the revolving
credit facility at $300 million. Key modifications of the extension
include the addition of Bank of Tokyo-Mitsubishi UFJ, Ltd. ("Bank of
Tokyo") to the lending group, a reduction of the borrowing rate by 50
basis points, and simplified covenants that provide more flexibility
for higher levels of foreign investment.
"We are pleased to be able to extend our credit agreement, and we
appreciate our long-standing relationship with PNC, RBS Citizens
Bank, Bank of America, and the other banks in our syndicate," said
Walter W. Turner, president and CEO of Koppers. Mr. Turner continued,
"I am especially happy to be able to add Bank of Tokyo to our group
with their strong presence and reputation in the Asian region. I
believe it further strengthens our capabilities to deploy capital in
that area of the world, which we expect to be a significant driver
for Koppers growth in the future."
Koppers, with corporate headquarters and a research
center in Pittsburgh, Pennsylvania, is a global integrated producer
of carbon compounds and treated wood products. Including its joint
ventures, Koppers operates facilities in the United States, United
Kingdom, Denmark, The Netherlands, Australia and China. The stock of
Koppers Holdings Inc. is publicly traded on the New York Stock
Exchange under the symbol "KOP." For more information, visit us on
the Web: www.koppers.com. Questions concerning investor relations
should be directed to Leroy M. Ball at 412 227 2118 or Michael W.
Snyder at 412 227 2131.
Safe Harbor Statement
This news release may contain forward-looking
statements based on management's current expectations, estimates and
projections. All statements that address expectations or projections
future, including statements about the company's strategy
for growth, product development, market position, expected
expenditures and financial results are forward-looking statements.
Some of the forward-looking statements may be identified by words
like "expects," "anticipates," "plans," "intends," "projects,"
"indicates," and similar expressions. These statements are not
guarantees of future performance and involve a number of risks,
uncertainties and assumptions. Many factors, including those
discussed more fully elsewhere in this release and in documents filed
with the Securities and Exchange Commission by Koppers, particularly
its latest annual report on Form 10-K and quarterly report on Form
10-Q, as well as others, could cause results to differ materially
from those stated. These factors include, but are not limited to,
changes in the laws, regulations, policies and economic conditions,
including inflation, interest and foreign currency exchange rates, of
countries in which the Company does business; competitive pressures;
the loss of one or more key customer or supplier relationships;
customer insolvencies; successful integration of structural changes,
including restructuring plans, acquisitions, divestitures and
alliances; cost and availability of raw materials; and other
economic, business, competitive, regulatory and/or operational
factors affecting the business of Koppers generally.
Leroy M. Ball
Vice President and Chief Financial Officer
412 227 2118
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