Borden Chemical, Inc. Secures $175 Million Credit Facility.Business Editors COLUMBUS, Ohio--(BUSINESS WIRE)--Sept. 23, 2002 Borden Chemical, Inc. announced today that it has entered into a new three-year, $175 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility with a group of nine banks. The facility is secured with inventory and receivables in the United States, Canada and the United Kingdom and will be used for general corporate purposes. Fleet Securities, Inc. served as the lead arranger Lead arranger The senior tier of arranger for the facility and Fleet Capital Corporation is the administrative agent. Based in Columbus, Borden Chemical is a leading global source for industrial resins and adhesives, formaldehyde, UV-light curable cur·a·ble adj. Capable of being cured or healed. coatings and other chemical products serving a broad range of markets including the forest products, construction, fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , oilfield, composites, electronics, automotive and foundry industries. You can find Borden Chemical on the web at www.bordenchem.com. |
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