| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Clean Harbors Inc. > News item |
Clean Harbors launches $350 million add-on term loan at 99.5 area OID
By Sara Rosenberg
New York, June 20 – Clean Harbors Inc. launched on Wednesday its fungible $350 million add-on senior secured first-lien term loan (Ba1) due June 2024 with original issue discount talk in the 99.5 area, according to a market source.
Pricing on the add-on term loan is Libor plus 175 basis points with a 0% Libor floor, in line with the existing term loan, the source said.
The add-on term loan has 101 soft call protection for six months.
Goldman Sachs Bank USA, Bank of America Merrill Lynch, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the leads on the deal.
Commitments are due on June 28, the source added.
Proceeds will be used to help fund the tender offer for $400 million of the company’s 5¼% senior notes due 2020.
Other funds for the refinancing will come from cash on hand and/or revolving credit facility borrowings.
The tender offer will expire on July 17.
Clean Harbors is a Norwell, Mass.-based provider of environmental, energy 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.