OCI Partners, OCI Beaumont amend revolver and term loan agreements

By Wendy Van Sickle

Columbus, Ohio, Oct. 22 – OCI Partners LP and OCI Beaumont LLC entered into on Oct. 16 amendments to their revolving and term loan credit agreements with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest under OCI’s term loan B-3 tranche was increased to Libor plus 550 basis points.

For both the revolving and term loan facilities, the maximum consolidated senior secured net leverage ratio was increased to 3.75 from 2.5 for the quarter ending Sept. 30; to 3.75 from 2.25 for the quarter ending Dec. 31; and to 3.75 from 1.75 for the quarter ending March 31.

For the same three quarters, the minimum consolidated interest coverage ratio was decreased to 3.5 from 5.

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

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