Banks Shop $800M TL for Ascend Performance Materials

Kellerhals, Richard
October 2010
High Yield Report;10/4/2010, Vol. 21 Issue 40, p17
This article reports on the search for a term loan for Ascend Performance Materials by Morgan Stanley and Bank of America Merrill Lynch in the U.S. in 2010. The producer of nylon, plastics and synthetic fibers plans to use the proceeds to finance a dividend payment to SK Capital. The company expects the loan to increase its leverage ratio to 3.2x. The loan received a B rating from Standard & Poor's.


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