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OCI Beaumont talks $165 million term loan B-2 at discount of 99½
By Sara Rosenberg
New York, Nov. 19 - OCI Beaumont LLC is shopping its $165 million incremental term loan B-2 due August 2019 with original issue discount talk of 991/2, according to a market source.
As previously reported, pricing on the loan is Libor plus 500 basis points with a 1.25% Libor floor, and the debt includes 101 soft call protection through August 2014.
Bank of America Merrill Lynch is the lead bank on the deal that launched with a call on Monday afternoon.
Proceeds will be used to repay intercompany loans.
OCI Beaumont is an ammonia and methanol production complex in Beaumont, Texas.
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