GrafTech increases add-on term loan B amount to $750 million

By Sara Rosenberg

New York, June 12 – GrafTech International Ltd. upsized its add-on term loan B to $750 million from $350 million, according to a market source.

Also, the original issue discount on the add-on term loan firmed at 99, the wide end of the 99 to 99.5 talk, the source said.

Pricing on the add-on term loan is Libor plus 350 basis points with a 1% Libor floor.

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

Proceeds will be used to refinance in full, as opposed to in part prior to the upsizing, 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.

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