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Ecovyst Increases Term Loan to Support Calabrian Acquisition
Ecovyst (ECVT) said Monday it plans to issue a $100 million fungible term loan B add-on to support its proposed acquisition of the Calabrian sulfur dioxide and sulfur derivatives business from Ineos Enterprises.The acquisition is slated to close by the end of Q2, Ecovyst said, adding it will also use cash on hand for the deal.The add-on loan is expected to be co-terminus with Ecovyst's $397 million term loan B maturing June 2031, the company said.Shares of Ecovyst were about 1% higher in Monday trading.Price: $14.28, Change: $+0.14, Percent Change: +0.99%
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