Quaker Chemical Corporation announced the closing of a new $550 million senior secured term loan B facility on October 1, 2026. The transaction amends the company’s existing credit agreement and involves JPMorgan Chase Bank, N.A. as the sole administrative agent for the new facility.
The new Term Loan B Facility has a maturity date of October 1, 2033. The loan is priced at a rate of SOFR plus 175 basis points, or 1.75%. The facility includes quarterly amortization payments equal to 0.25% of the initial aggregate principal amount, with the remaining balance due at maturity.
Proceeds from the loan are intended to repay in full the outstanding U.S. Term Loans under the company’s previous credit agreement. The new facility is secured by first priority liens on substantially all of the company’s assets and is guaranteed by certain domestic subsidiaries.
The agreement includes mandatory prepayment provisions based on the company’s Consolidated Net Leverage Ratio and cash flow. It also contains a covenant-lite structure, meaning that a breach of financial maintenance covenants regarding this facility does not immediately constitute an event of default unless all lenders for the pro rata facilities declare an acceleration.
Quaker Chemical stated that the refinancing provides greater flexibility in its capital structure by extending its debt maturity profile and reducing required annual debt payments. The company intends to file the full text of the amendment as an exhibit to its quarterly report for the quarter ended September 30, 2026.
