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Article: Compass Minerals Closes New Credit Facilities.
- Article from:
- Business Wire
- Article date:
- December 22, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OVERLAND PARK, Kan. -- Compass Minerals Group, a subsidiary of Compass Minerals International, Inc. (NYSE:CMP), has entered into new senior secured credit facilities totaling $475 million. The proceeds will be used to refinance the company's existing revolving credit facility and term loan, and to fund the previously announced tender offer for the company's 10-percent senior subordinated notes.
The facilities include the following:
--A $125.0 million revolving credit facility due in 2010, with a drawn interest rate of 1.75 percent over LIBOR and an undrawn commitment fee of 0.375 percent. This facility will be used for general corporate purposes.