Kronos Worldwide Launches $600M Term Loan B Financing

Kronos Worldwide, Inc. (NYSE:  KRO) today announced it is launching a proposed $600 million senior secured term loan B.  Proceeds of the term loan would be used to refinance existing indebtedness, including the Kronos International, Inc. 6.5% senior secured notes due April 2013 (Euro 279.2 million principal amount outstanding).  The remaining proceeds would be used for general corporate purposes, which could include the payment of a special dividend in the amount of up to $1.00 per share.  While there can be no assurance that Kronos Worldwide will be able to obtain such a refinancing on acceptable terms, Kronos Worldwide believes it will be able to refinance the remaining senior secured notes before their maturity date.