Clean Harbors finalizes $983 million term loan B at par issue price

By Sara Rosenberg

New York, Dec. 19 – Clean Harbors Inc. firmed the issue price on its $983 million term loan B (BBB-) due October 2028 at par, the tight end of the 99.75 to par talk, according to a market source.

Pricing on the term loan remained at SOFR+CSA plus 175 basis points with a 0% floor.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

The term loan still has 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Allocations are expected on Wednesday, the source added.

Proceeds will be used to reprice an existing $983 million term loan B due October 2028 down from SOFR+ARRC CSA plus 200 bps.

Clean Harbors is a Norwell, Mass.-based provider of environmental and industrial services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.