Olin to prepay $500 million under term loan facility via new issue

By Sarah Lizee

Olympia, Wash., Jan. 16 – Olin Corp. plans to prepay $500 million of the loans outstanding under its term loan facility due 2022, according to a 424B5 filing with the Securities and Exchange Commission.

The company will use proceeds from an offering of $500 million senior notes due 2030 and cash on hand. The company expects the net proceeds from the new notes to be $491.7 million.

Borrowings under the credit facility bear interest at Libor plus a margin that ranges from 125 basis points to 200 bps.

Olin is a Clayton, Mo.-based manufacturer of ammunition, chlorine and sodium hydroxide.

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