Koppers sets Wednesday lender call for $400 million term loan B

By Paul A. Harris

Portland, Ore., Feb. 28 – Koppers Inc. set a lender call at 1 p.m. ET on Wednesday to launch a $400 million seven-year term loan B, according to a market source.

The covenant-lite deal features six months of soft call protection at 101 and has a 1% annual amortization rate.

The Pittsburgh-based provider of treated wood products, wood treatment chemicals and carbon compounds plans to use the proceeds plus a draw on its revolver to refinance its $500 million of 6% senior notes due February 2025.

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