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Arch Chemicals Enters into New Accounts Receivable Securitization Facility
Thursday, October 08, 2009 9:51 AM


(Source: Business Wire)trackingArch Chemicals, Inc. (NYSE: ARJ) announced today that it has entered into a trade accounts receivable securitization facility with PNC Bank and its affiliate, Market Street Funding LLC, which will provide up to $80 million of funding to the Company. This facility replaces the Company's previous securitization facility with SunTrust Bank and its affiliates; and it follows the Company's recent completion of its seven-year, $75 million private placement in September and its $100 million term loan completed earlier in the year.

Arch Chemicals' Senior Vice President and CFO Steven C. Giuliano said: "We are pleased to have closed on this receivables securitization facility. It is an attractive source of funding which fits well with the seasonal nature of our working capital needs, as well as our strategy of maintaining diversified sources of liquidity."

About Arch

Headquartered in Norwalk, Connecticut (USA), Arch Chemicals, Inc. is a global Biocides company with annual sales of approximately $1.5 billion. Arch and its subsidiaries provide innovative, chemistry-based and related solutions to selectively destroy and control the growth of harmful microbes. The Company's concentration is in water treatment, hair and skin care products, treated wood, preservation and protection applications such as for paints and building products, and health and hygiene applications. Arch Chemicals operates in two segments: Treatment Products and Performance Products. Together with its subsidiaries, Arch has approximately 3,000 employees and manufacturing and customer-support facilities in North and South America, Europe, Asia, Australia and Africa. For more information, visit the Company's Web site at http://www.archchemicals.com.

Except for historical information contained herein, the information set forth in this communication contains forward-looking statements that are based on management's beliefs, certain assumptions made by management and management's current expectations, outlook, estimates and projections about the markets and economy in which the Company and its various businesses operate. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "opines," "plans," "predicts," "projects," "should," "targets" and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Future Factors"), which are difficult to predict.



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