Olin enters incremental term loan amendment, draws full $200 million

By Marisa Wong

Morgantown, W.Va., Nov. 9 – Olin Corp. entered into an incremental term loan amendment on Nov. 3 and borrowed $200 million of additional term loans, according to an 8-K filing with the Securities and Exchange Commission.

Sumitomo Mitsui Banking Corp. is the administrative agent for the credit agreement dated Aug. 25, 2015.

As a result of the borrowing made on Nov. 5, the commitments available to Olin under the incremental amendment were reduced to zero.

The additional term loans have substantially identical terms and conditions as the other term loans outstanding under the credit agreement.

The term loans are expected to mature on Oct. 5, 2018. The term loans have no scheduled amortization payments.

Borrowings bear interest at a rate based on Olin’s total leverage ratio.

Olin is a Clayton, Mo.-based manufacturer of ammunition, chlorine and sodium hydroxide.

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