MALVERN, Pa.--(BUSINESS WIRE)--PQ Group Holdings Inc. (NYSE:PQG), a leading, highly diversified global provider of specialty catalysts, materials, chemicals and services, announced today that by December 31, 2018, it intends to repay an additional $55 million of its term loan facility, reducing total debt outstanding during 2018 by approximately $135 million.

“Given our healthy free cash flow profile in the second half of the year, we continue to make significant progress towards our deleveraging goals,” said Belgacem Chariag, President and Chief Executive Officer of PQ. “We remain committed to reducing debt while also investing for growth.”

At September 30, 2018, the Company had total gross debt outstanding of $2.2 billion, and maintains interest rate caps with varying notional amounts and rates ranging from 2.5% to 3.5% through July 2022 to mitigate interest rate volatility on its $1.2 billion of variable rate debt.

About PQ Group Holdings Inc.

PQ Group Holdings Inc. is an integrated, global provider of specialty catalysts, specialty materials and chemicals, and services. Our environmental catalysts and services business is a leading global innovator and producer of catalysts for the refinery, emissions control, and petrochemical industries and is also a leading provider of catalyst recycling services to the North American refining industry. Our performance materials and chemicals business is a silicates and specialty materials producer with leading supply positions for the majority of our products sold in North America, Europe, South America, and Asia (excluding China), serving diverse and growing end uses such as personal and industrial cleaning products, fuel efficient tires, surface coatings, and food and beverage products.