OMNOVA Solutions Reduces Financing Costs and Extends Maturity With Completion of Term Loan Amendment

Mon Mar 11, 2013 4:30pm EDT

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FAIRLAWN, Ohio,  March 11, 2013  /PRNewswire/ -- OMNOVA Solutions Inc. (NYSE:
OMN) today announced the successful completion of an amendment to its  $200
million  Term Loan Credit Facility ($195.5 million  outstanding).  Key changes
in terms include a one-year extension of the facility maturity to  May 2018  and
a reduction in borrowing spreads of 1.25%.  Effective  March 7, the new floating
interest rate is 4.25%.  The annual interest expense savings of the amended Term
Loan Facility is approximately  $2.4 million  at current LIBOR rates.  The
Company will record a charge of approximately  $1.5 million  in the 2013 second
quarter related to this transaction.

In addition to the Term Loan Facility, OMNOVA's long term capital structure
includes  $250 million  of Senior Notes with a coupon of 7.875% which matures in
November 2018.  The Company's liquidity position as of  November 30, 2012 
totaled  $222.5 million  which included  $148.5 million  of cash, cash
equivalents and restricted cash, and  $74.0 million  of availability under an
asset-based revolving credit facility.

This press release includes "forward-looking statements" as defined by federal
securities laws. These statements, as well as any verbal statements by the
Company in connection with this press release, are intended to qualify for the
protections afforded forward-looking statements under the Private Securities
Litigation Reform Act of 1995.  Forward-looking statements reflect management's
current expectation, judgment, belief, assumption, estimate or forecast about
future events, circumstances or results and may address business conditions and
prospects, strategy, capital structure, sales, profits, earnings, markets,
products, technology, operations, customers, raw materials, financial condition,
and accounting policies, among other matters.  Words such as, but not limited
to, "will," "may," "should," "projects," "forecasts," "seeks," "believes,"
"expects," "anticipates," "estimates," "intends," "plans," "targets,"
"optimistic," "likely," "would," "could," and similar expressions or phrases
identify forward-looking statements.

All forward-looking statements involve risks and uncertainties.  Many risks and
uncertainties are inherent in business generally and the markets in which the
Company operates or proposes to operate.  Other risks and uncertainties are more
specific to the Company's businesses including businesses the Company acquires. 
The occurrence of such risks and uncertainties and the impact of such
occurrences is often not predictable or within the Company's control.  Such
impacts could adversely affect the Company's results and, in some cases, such
effect could be material.  

All written and verbal forward-looking statements attributable to the Company or
any person acting on the Company's behalf are expressly qualified in their
entirety by the risks, uncertainties, and cautionary statements contained
herein.  Any forward-looking statement speaks only as of the date on which such
statement is made, and the Company undertakes no obligation, and specifically
declines any obligation other than that imposed by law, to publicly update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise.

Risks and uncertainties that may cause actual results to differ materially from
expected results include, among others: economic trends and conditions affecting
the economy in general and/or the Company's end-use markets; prices and
availability of raw materials including styrene, butadiene, vinyl acetate
monomer, polyvinyl chloride, acrylonitrile, acrylics and textiles; ability to
increase pricing to offset raw material cost increases; product substitution
and/or demand destruction due to product technology, performance or cost
disadvantages; high degree of customer concentration and potential loss of a
significant customer; supplier, customer and/or competitor consolidation;
customer credit and bankruptcy risk; failure to successfully develop and
commercialize new products; a decrease in regional customer demand due to
reduced in-region production or increased import competition; risks associated
with international operations including political unrest, fluctuations in
exchange rates, and regulatory uncertainty; failure to successfully implement
productivity enhancement and cost reduction initiatives; risks associated with
chemical handling and manufacturing and with acts of war, terrorism, natural
disasters or accidents, including fires, floods, explosions and releases of
hazardous substances; unplanned full or partial suspension of plant operations;
ability to comply, and cost of compliance with legislative and regulatory
changes, including changes impacting environmental, health and safety compliance
and changes which may restrict or prohibit the Company from using or selling
certain products and raw materials; losses from the Company's strategic
alliance, joint venture, acquisition, integration and operational activities;
rapid inflation in health care costs; loss of key employees and inability to
attract and retain new key employees; prolonged work stoppage resulting from
labor disputes with unionized workforce; changes in, and significant
contributions required to meet, pension plan funding obligations; attacks on
and/or failure of the Company's information systems; infringement or loss of the
Company's intellectual property; litigation and claims against the Company
related to products, services, contracts, employment, environmental, safety,
intellectual property and other matters; adverse litigation judgments or
settlements; absence of or inadequacy of insurance coverage for litigation
judgments, settlements or other losses; stock price volatility; availability of
financing at anticipated rates and terms; and loan covenant default arising from
substantial debt and leverage and the inability to service that debt, including
increases in applicable short-term or long-term borrowing rates.

For further information on risks and uncertainties, see the Company's Form 10-K
and 10-Q filings with the Securities and Exchange Commission.

OMNOVA Solutions Inc. is a technology-based company with sales for the fiscal
year ending  November 30, 2012  of  $1.1 billion  and a global workforce of
approximately 2,400. OMNOVA is an innovator of emulsion polymers, specialty
chemicals, and decorative and functional surfaces for a variety of commercial,
industrial and residential end uses.  Visit OMNOVA Solutions on the internet at

SOURCE  OMNOVA Solutions Inc.

Sandi Noah, Communications, +1-330-869-4292; or Michael Hicks, Investor
Relations, +1-330-869-4411

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