OCI Partners lowers pricing on $398 million term loan B

By Toni Weeks

San Luis Obispo, Calif., April 4 - OCI Partners LP subsidiary OCI Beaumont LLC completed a repricing of its $398 million term loan B on Friday.

The new interest rate of Libor plus 100 basis points to 400 bps is expected to generate $14.5 million of interest savings on a net present value basis, according to a press release. The coupon was previously priced at Libor plus 500 bps with a Libor floor of 125 bps.

The transaction also maintained all existing financial covenants on the loan as well as the existing maturity date, which is Aug. 20, 2019.

Nederland, Texas-based OCI owns and operates an integrated methanol and ammonia production facility.

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