Koppers seeks $500 million credit facility at Libor plus 225 bps

By Sara Rosenberg

New York, Jan. 13 – Koppers Holdings Inc. is in market with a $500 million five-year senior secured credit facility that is talked at Libor plus 225 basis points, according to a market source.

The facility consists of a $300 million revolver and a $200 million term loan A.

PNC Bank, Bank of America Merrill Lynch and Fifth Third Bank are the joint lead arrangers on the deal that launched with a bank meeting earlier this month.

Commitments are due on Jan. 17, the source added.

Proceeds will be used to refinance the company’s existing senior secured revolver and term loan due Aug. 15, 2019.

Koppers is a Pittsburgh-based provider of treated wood products, wood treatment chemicals and carbon compounds.

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