Momentive Specialty Seeks to Extend Loan Maturities by Two Years
The provider of chemical products for the automotive, chemical, construction and transportation industries is looking to push out the maturity to March 2015 on loans due in May 2013 and to March 2017 on facilities maturing in May 2015, it said today in a regulatory filing. It may also delay the expiration of a line of credit to December 2014 instead of February 2013.
Momentive may issue new senior secured debt as part of the transaction, the Columbus, Ohio-based company said. Proceeds from the loan will be used to repay outstanding borrowings.
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