Multi-Office Locke Lord Team Represents Kronos Worldwide in Connection With Multiple Transactions

A multi-office Locke Lord team led by David Ruediger (Boston), Gene McDermott (Providence), John Whitlock (Boston) and Don Glendenning (Dallas) represented Kronos Worldwide (Kronos), a leading global producer and marketer of value-added titanium dioxide pigments, and certain of its subsidiaries, in connection with the following transactions that closed in July: an amendment to Kronos’ global revolving credit facility that increased the facility from $225 Million to $300 Million and extended its maturity through 2029; the acquisition from Venator Investments of the remaining 50% joint venture interest in Louisiana Pigment Company, L.P., not already owned by Kronos for $185 million (plus a potential earn-out of up to $15 million); and the issuance of €75 million of Kronos’ Senior Notes due 2029. These transactions follow the exchange of €276.2 million of Kronos’ Senior Notes due 2029 and cash for €325 million of Kronos’ Senior Notes due 2025, also handled by Locke Lord, which closed in February 2024. Additional support was provided by Buddy Sanders (Houston), Van Jolas and Jack Dougherty (both of Dallas), Joseph Chung (New York) and Connor Parent (Boston), among others.
Posted on August 8, 2024