Iofina secures new debt refinancing
Iofina Plc has refinanced its entire debt by entering into a new loan agreement with First Financial Bank, (NASDAQ: FFBC), a Cincinnati-headquartered US regional bank.
Iofina is a vertically integrated company that specializes in the exploration and production of iodine and the manufacturing of specialty chemical derivatives. With operations in Kentucky and Oklahoma, Iofina’s strategy is to identify, develop, build, own and operate iodine extraction plants based on the company’s WET® IOsorb® technology.
Oaklins Cavendish’s debt advisory team, based in the UK, advised Iofina Plc. The team discussed this transaction with circa 40 domestic US lenders, and also initiated discussions with US non-bank lenders. This process was helped greatly by one of Oaklins’ teams in the US. Following on from these lengthy discussions, Iofina was extremely satisfied with the favorable terms secured with this new loan agreement with First Financial Bank.
President and CEO, Iofina Plc
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