OCI Beaumont firms $399 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, April 1 - OCI Beaumont LLC finalized pricing on its $399 million term loan B-2 due Aug. 20, 2019 at Libor plus 400 basis points, the wide end of the Libor plus 375 bps to 400 bps talk, according to a market source.

The loan still has a 1% Libor floor, a par offer price and 101 soft call protection for one year.

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

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

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

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