GrafTech launches $350 million add-on term loan B at 99-99.5 OID

By Sara Rosenberg

New York, June 5 – GrafTech International Ltd. held a lender call at 10:30 a.m. ET on Tuesday to launch a $350 million add-on term loan B that is talked at Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99 to 99.5, according to an informed source.

The add-on term loan has 101 soft call protection through Feb. 12, 2019, the source said.

J.P. Morgan Securities LLC is the lead arranger on the deal.

Proceeds will be used to refinance existing unsecured debt, which is a promissory note to Brookfield Capital Partners.

GrafTech is a Brooklyn Heights, Ohio-based manufacturer of graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.

© 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.