Cytec Industries Executes Credit Agreements.

WEST PATERSON West Paterson (păt`ərsən), borough (1990 pop. 10,982), Passaic co., NE N.J., a suburb of Paterson; inc. 1914. Electric, electronic, and photographic products are made in the borough. , N.J. -- Cytec Industries Cytec Industries is a specialty chemicals and materials technology company with pro-forma sales in 2004, including the Surface Specialties acquisition, of approximately $3.0 billion. Cytec is a result of its spin-off from American Cyanamid Company. Inc. (NYSE NYSE

See: New York Stock Exchange :CYT) announced today that it has entered into credit agreements totaling $1.775 billion in preparation for the anticipated acquisition of UCB's Surface Specialties business. The agreements provide: a $725 million 5-year term loan facility, a $700 million 364-day credit facility, and a $350 million 5-year 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. The term loan and 364-day facilities will be used to finance the acquisition and the revolving credit facility will provide additional liquidity for general corporate purposes. The facilities contain covenants that are customary for such facilities. Closing of the acquisition is expected on February 28, 2005.

The facilities were arranged by Citigroup Global Markets Inc. and include Wachovia Bank, National Association and ABN AMRO Bank N.V. as Syndication Agents, and Calyon New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Branch, The Bank of Nova Scotia and SunTrust Bank as Documentation Agents.

Corporate Profile

Cytec Industries is a specialty chemicals and materials technology company with sales in 2004 of $1.7 billion. Its growth strategies are based on developing technologically advanced customer solutions for global markets including: aerospace, coatings, mining, plastics and water treatment.

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Publication:	Business Wire
Date:	Feb 15, 2005
Words:	185
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