Platform Specialty Products Corporation announced that it has successfully completed the reprising, extension and amendment of certain existing term loans under its credit agreement. This refinancing, by creating a new USD 1,475 million B-4 tranche of term loans and a new €433 million C-3 Euro tranche of term loans, extended the maturity date of existing term loan tranches USD B-1, USD B-2 and EUR C-1, representing more than half of Platform’s existing term loan debt, by another three years from 2020 to 2023. This amendment also shifted $165 million from the USD term loans to the Euro term loans allowing Platform to further optimize its foreign currency exposure. This repricing resulted in a 50 basis points reduction in the interest rate (to 4.00% per annum plus the applicable LIBOR rate) for the new USD tranche and 75 basis points reduction (to 3.75% per annum plus the applicable EURIBOR rate) for the new Euro tranche, each as calculated in the credit agreement. To effect the refinancing, the proceeds of the newly-created term loan tranches were used to concurrently prepay in full the existing term loan tranches USD B-1, USD B-2 and EUR C-1, which were not subject to a call premium. The extended maturity date of the new term loans is June 7, 2023 (from June 7, 2020 originally). However, in the event that Platform has not refinanced in full its 6.50% USD senior notes due February 2022 by November 2, 2021 in accordance with the terms of its credit agreement, the maturity date of the new term loans will become November 2, 2021.