05:14 PM EDT, 06/12/2024 (MT Newswires) -- Ecovyst ( ECVT ) said late Wednesday it has successfully amended and extended its $873 million senior secured term loan facility at a lower interest rate margin and with an extended maturity.

"The market continues to reward Ecovyst ( ECVT ) with attractive borrowing rates due to the strong operating results and cash flow generation of our portfolio," said CFO Mike Feehan.

The loan facility will mature in June 2031, according to the company.

Ecovyst ( ECVT ) said the refinancing will reduce cash interest by about $3 million per year.