Kronos Worldwide Inc (KRO) has released an update.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Kronos Worldwide, Inc. successfully completed an early settlement of a significant exchange offer and consent solicitation, allowing holders to swap €325 million of 3.75% Senior Secured Notes due 2025 for new 9.50% Senior Secured Notes maturing in 2029, with additional cash compensation. This move was part of a strategic refinance that included amendments to align the terms of old debt with the new. The exchange was met with enthusiasm, as evidenced by the tendering of the full amount before the early participation deadline, leaving only €75 million of the old notes outstanding. The new notes offer various covenants and come with the option for redemption under certain conditions, providing flexibility for the issuer and potentially appealing terms for investors.
For further insights into KRO stock, check out TipRanks’ Stock Analysis page.
