OCI Beaumont talks $360 million term loan at Libor plus 525-550 bps

By Sara Rosenberg

New York, Aug. 5 - OCI Beaumont LLC is talking its $360 million six-year term loan (B1/B) at Libor plus 525 basis points to 550 bps with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.

The debt has 101 soft call protection for one year, the source said.

The term loan is split between a $125 million B-1 tranche and a $235 million B-2 tranche but they are being sold as a strip.

BofA Merrill Lynch, Barclays and Citigroup Global Markets Inc. are the lead banks on the deal that launched with a bank meeting last Thursday.

Proceeds will be used to refinance existing debt.

OCI Beaumont is an ammonia and methanol production complex in Beaumont, Texas.

© 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.