Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for OCI Beaumont LLC > News item |
OCI Beaumont prices $360 million of term loans at Libor plus 500 bps
By Sara Rosenberg
New York, Aug. 15 - OCI Beaumont LLC finalized pricing on its $360 million six-year term loan debt (B1/B) at Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.
The term debt has a 50 bps step-down in pricing upon completion of an initial public offering and ratings of Ba3/B, the source said.
The debt is split between a $125 million B-1 tranche and a $235 million B-2 tranche that were sold as a strip.
Bank of America Merrill Lynch, Barclays and Citigroup Global Markets Inc. are the lead banks on the deal.
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.