Rockwood Holdings, Inc. (NYSE: ROC) today announced that it has engaged
Credit Suisse Securities (USA) LLC to advise the company on improving
terms of its senior secured credit facility.
The company said that it will pursue an amendment to its existing senior
credit facility. Under consideration are extending the maturity of
certain term loan tranches, changing the definition of the leverage
covenant and extending the revolving credit facility.
Commenting on the action, Seifi Ghasemi, Rockwood chairman and chief
executive officer, said, “We are pursuing this course of action now to
take advantage of the improving credit markets to strengthen our balance
sheet. This will allow us to continue to pursue our stated strategy for
Rockwood as we move forward.”
Rockwood Holdings, Inc. is a leading global specialty chemicals and
advanced materials company. Rockwood has a worldwide employee base of
approximately 10,000 people and annual net sales of approximately $3
billion. The company focuses on global niche segments of the specialty
chemicals, pigments and additives and advanced materials markets. For
more information on Rockwood, please visit www.rocksp.com.
The information set forth in this press release contains certain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 concerning the business,
operations and financial condition of Rockwood Holdings, Inc. and its
subsidiaries and affiliates ("Rockwood"). Words such as "anticipates,"
"believes," "estimates," "expects," "forecasts," "predicts" and
variations of such words or expressions are intended to identify
forward-looking statements. Although Rockwood believes the expectations
reflected in such forward-looking statements are based upon reasonable
assumptions, there can be no assurance that its expectations will be
realized. "Forward-looking statements" consist of all non-historical
information, including any statements referring to the prospects and
future performance of Rockwood. Actual results could differ materially
from those projected in Rockwood's forward-looking statements due to
numerous known and unknown risks and uncertainties, including, among
other things, the "Risk Factors" described in Rockwood's 2008 Form 10-K
on file with the Securities and Exchange Commission. Rockwood does not
undertake any obligation to publicly update any forward-looking
statement to reflect events or circumstances after the date on which any
such statement is made or to reflect the occurrence of unanticipated
events.
Rockwood Holdings, Inc.
Timothy McKenna, 609-734-6430
tmckenna@rocksp.com
