Arizona Chemical seeks term loan repricing at Libor plus 400 bps

By Sara Rosenberg

New York, Feb. 14 - Arizona Chemical Inc. is in market with a repricing of its $533 million term loan that is talked at Libor plus 400 basis points with a 1.25% Libor floor, versus current pricing of Libor plus 575 bps with a 1.5% Libor floor, according to a market source.

The repriced loan has 101 soft call protection for six months and existing lenders are getting paid out at 101 with this transaction, the source said.

Goldman Sachs & Co. is the lead bank on the deal that launched with a call this past Tuesday.

Commitments are due on Friday.

Arizona Chemical is a Jacksonville, Fla., supplier of pine chemicals to the adhesives, inks and coatings and oleochemicals markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.