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Kaiser Aluminum $200 million revolver priced at Libor plus 300 bps
By Sara Rosenberg
New York, March 24 - Kaiser Aluminum Corp.'s $200 million four-year secured revolving credit facility is initially priced at Libor plus 300 basis points with a 62.5 bps commitment fee, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
Pricing can range from Libor plus 200 bps to 350 bps based on availability, and the commitment fee can drop to 50 bps if the average daily unused portion is less than 33.3% of the total revolver commitment.
JPMorgan is the administrative agent on the deal that was completed on March 23, and JPMorgan and Wells Fargo acted as the joint lead arrangers and bookrunners.
There is $50 million accordion feature.
Proceeds were used to replace an existing $265 million revolver.
Kaiser Aluminum is a Foothill Ranch, Calif.-based producer of semi-fabricated specialty aluminum products.
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