Kronos Worldwide Seeks to Raise €75M Through Additional Senior Secured Notes
Portfolio Pulse from Benzinga Newsdesk
Kronos Worldwide, Inc. (NYSE:KRO) is seeking to raise €75 million through a private offering of additional 9.50% Senior Secured Notes due 2029. These notes will be issued by its subsidiary, Kronos International, Inc., and will have the same terms as the existing €276,174,000 notes issued earlier this year.
July 23, 2024 | 7:44 am
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Kronos Worldwide, Inc. is raising €75 million through additional 9.50% Senior Secured Notes due 2029. This move aims to bolster the company's financial position by leveraging debt capital.
The issuance of additional notes will increase Kronos Worldwide's debt, which could be seen as a positive or negative depending on investor sentiment towards the company's leverage and financial strategy. The impact on the stock price in the short term is likely neutral as it depends on how the market perceives the use of the raised capital.
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