OCI Beaumont talks $399 million term loan B at Libor plus 375-400 bps

By Sara Rosenberg

New York, March 25 - OCI Beaumont LLC is talking its $399 million term loan B-2 due Aug. 20, 2019 at Libor plus 375 basis points to 400 bps with a 1% Libor floor, a par offer price and 101 soft call protection for one year, according to a market source.

Bank of America Merrill Lynch is the lead bank on the deal that launched on Monday.

Proceeds will be used to reprice an existing term loan from Libor plus 500 bps with a 1.25% Libor floor.

Closing is expected in April.

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

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