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WAYNE, Pa., April 11, 2025 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT), a leading integrated and innovative global provider of advanced materials, specialty catalysts, virgin sulfuric acid and sulfuric acid regeneration services ("Ecovyst"), announced today that its indirect, wholly owned subsidiary, Ecovyst Catalyst Technologies LLC, has successfully amended its existing ABL credit agreement (the "Amended ABL Facility"). The Amended ABL Facility remains at $100 million and was, among other things, extended by over three years to April 2030. The Amended ABL Facility will bear interest at a rate equal to the forward-looking term rate based on the secured overnight financing rate as administered by the Federal Reserve Bank of New York ("Term SOFR") or the base rate plus a margin of between 1.25% - 1.75% or 0.25% - 0.75%, respectively, per annum.
"We believe that amending and extending our ABL credit agreement in the current market environment will enhance our overall financial flexibility," said Mike Feehan, Chief Financial Officer at Ecovyst. "This amendment, combined with our recent term loan repricing in January, is expected to reduce our credit risk, lower our borrowing costs and enhance our liquidity."
As previously reported, in January 2025, Ecovyst amended its existing Term Loan Facility, reducing the interest rate spread applicable to its term loans by 25 basis points to Term SOFR plus 2.00% per annum.
About Ecovyst (www.ecovyst.com):
Ecovyst Inc. and subsidiaries is a leading integrated and innovative global provider of advanced materials, specialty catalysts, sulfuric acid and sulfuric acid regeneration services. We support customers globally through our strategically located network of manufacturing facilities. We believe that our products, which are predominantly inorganic, and services contribute to improving the sustainability of the environment.
We have two uniquely positioned specialty businesses: Ecoservices provides sulfuric acid recycling to the North American refining industry for the production of alkylate and provides high quality and high strength virgin sulfuric acid for industrial and mining applications. Ecoservices also provides chemical waste handling and treatment services, as well as ex-situ catalyst activation services for the refining and petrochemical industry. Advanced Materials & Catalysts, through its Advanced Silicas business, provides finished silica catalysts, catalyst supports and functionalized silicas necessary to produce high performing plastics and to enable sustainable chemistry, and through its Zeolyst Joint Venture, innovates and supplies specialty zeolites used in catalysts that support the production of sustainable fuels, remove nitrogen oxides from diesel engine emissions and that are broadly applied in refining and petrochemical processes.