SunCoke repays $50 million loan, $172 million revolver via refinancing

By Susanna Moon

Chicago, July 27 – SunCoke Energy Partners, LP repaid $50 million outstanding on a term loan and repaid $172 million on a revolver using proceeds of new notes and loan drawdowns.

The company also purchased and redeemed its $463 million of 7 3/8% senior notes due 2020 and plans to repay its $112.6 million promissory note due 2021 in August using revolver drawdowns, according to a 10-Q filing with the Securities and Exchange Commission.

In the second quarter, the partnership refinanced its debt obligations using $620.6 million of proceeds from new 7½% notes due 2025 and $100 million of borrowings under an amended credit facility.

The partnership also increased its revolver to $285 million and extended its maturities to 2022 and incurred debt issue costs of $14.8 million.

SunCoke is a Lisle, Ill.-based manufacturer of coke used in the blast furnace production of steel.

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