Calgon Carbon amends credit facility

The new agreement, which expires on 17 November 2016, permits borrowings up to US$125 million and could be increased to US$175 million. The agreement is unsecured and subject to customary affirmative and negative covenants for credit agreements of this type.

This new agreement amends and restates the company’s US$95 million five-year credit agreement, dated 8 May 2009.

Steve Schott, Calgon Carbon’s chief financial officer, said: “I am very pleased with the amendments made to our credit agreement. These amendments, which include increasing our borrowing capacity, extending the agreement’s expiration date, lowering our borrowing costs, eliminating the banks’ security interests in our assets, and reducing or eliminating many of the prior restrictive provisions, position us well for the ongoing execution of our strategic plan.”