Olin gets $220 million revolver

By Sara Rosenberg

New York, Oct. 29 - Olin Corp. closed on a new $220 million five-year senior unsecured revolving credit facility, according to a company news release.

Citigroup and Bank of America acted as the joint lead arrangers on the deal, with Citi the bookrunner and administrative agent, Bank of America as syndication agent, and Wachovia Bank and The Northern Trust Co. the documentation agents.

The facility is comprised of a $190 million U.S. dollar denominated portion, under which Olin may borrow, and a $30 million U.S./Canadian dollar denominated portion, under which Olin and one of its Canadian subsidiaries may borrow.

Proceeds were used to replace the company's existing $160 million senior revolver.

Olin is a Clayton, Mo.-based manufacturer of chlorine and caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, potassium hydroxide and bleach products, and of sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.

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