Ashurst has advised Australian-incorporated, NYSE-listed mining and inorganic chemical business, Tronox Limited and its Australian subsidiaries (Tronox) on the refinancing of its existing term loan and asset based lending facilities and notes, including a US$2.150 billion term loan, a US$550 million asset based lending facility and a US$450 million note issue.

Tronox sought to refinance its existing corporate facilities and repay certain notes in order to fund its acquisition of Cristal's TiO2 business, which Ashurst advised on in February 2017, to reduce its overall cost of debt and extend its debt portfolio's weighted average years to maturity.
 
Tronox processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

Lead partner Kenneth Nguyen (Finance Transactions) said: "We were delighted to assist our longstanding client, Tronox on this major refinancing, which will in due course support the transformational combination with Cristal's TiO2 business."

Kenneth was assisted by counsel Trent Chugg, senior associate Zoe Woolford, foreign associate Peter Allen, lawyer James Szauer and graduate Duncan Knowles (Finance Transactions); partner John Sartori and senior associate Eliza Blandford (Corporate Transactions); partners Ian Kellock and Geoffrey Mann, senior associate Bronwyn Kirkwood and lawyer Valerie Misa (Tax); lawyers Jacinta Pitos and James Campbell (Real Estate); partner Lionel Meehan (RSSG); with partner Mark Bradley (Disputes).