Tronox Ltd. (TROX.PK, TROXB.PK, TROX) announced that it has received a commitment for a new $1.3 billion senior secured term loan provided by Goldman Sachs, UBS, Credit Suisse, and RBC Capital Markets.
The company said it will use the funds for general corporate purposes and/or potential strategic alternatives. Following completion of this financing and prepayment of its existing loan in full, Tronox will have about $1.3 billion in cash on its balance sheet. The new financing is targeted for completion by the end of the first quarter.
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