Vantage Specialty flexes $238 million term loan to Libor plus 375 bps

By Sara Rosenberg

New York, Feb. 4 - Vantage Specialty Chemicals reduced pricing on its roughly $238 million term loan to Libor plus 375 basis points from Libor plus 425 bps, according to a market source.

The loan still has a 1.25% Libor floor, a par offer price and 101 soft call protection for one year.

Commitments continue to be due on Wednesday, the source added.

Proceeds are being used to reprice an existing term loan from Libor plus 550 bps with a 1.5% Libor floor.

RBC Capital Markets is the lead bank on the deal.

Vantage is a Chicago-based specialty chemicals company.

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