KRONOS WORLDWIDE, INC. COMPLETES $400 MILLION TERM LOAN B
FINANCING AND $125 MILLION REVOLVING CREDIT FACILITY
DALLAS, TEXAS - June 18, 2012 - Kronos Worldwide, Inc.
(NYSE: KRO) today announced it has completed a new $400
million senior secured term loan B. A portion of the
net proceeds of the term loan were used to refinance the
Kronos International, Inc. 6.5% senior secured notes due
April 2013 (Euro 279.2 million principal amount outstanding),
which have been called for redemption on July 20, 2012.
The new $400 million term loan provides for an
additional $100 million of term loan borrowings in the future
under certain conditions. The remaining net proceeds of
the $400 million term loan, plus any additional term loan
which might be borrowed in the future, will be used for
general corporate purposes. The new term loan permits
the continuation of the payment of regular quarterly
dividends as well as the payment of special dividends.
Kronos Worldwide today announced that it has also completed a
new $125 million revolving bank credit facility, which will
also be used for general corporate purposes.
Kronos Worldwide, Inc. is a major international producer of
titanium dioxide products.
The statements in this press release relating to matters that
are not historical facts are forward-looking statements that
represent management's beliefs and assumptions based on
currently available information. Although Kronos
Worldwide believes that the expectations reflected in such
forward-looking statements are reasonable, it cannot give any
assurances that these expectations will prove to be correct.
Such statements by their nature involve substantial
risks and uncertainties that could significantly impact
expected results, and actual future results could differ
materially from those described in such forward-looking