New Jersey-based global specialty chemicals and advanced materials company, Rockwood Holdings, has paid down its existing senior secured debt worth $410 million. The company has also refinanced a new senior secured credit facility worth a total of $850 million.

The new credit line carries an interest rate of 2.75% and will mature in 2018. The voluntary payment will result in a saving of about $40 million in interest expense on a full year basis, as compared to 2010.

Click here for the release from Business Wire.