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Oxbow Carbon sets $350 million term loan B at Libor plus 350 bps
By Sara Rosenberg
New York, April 24 – Oxbow Carbon LLC firmed pricing on its $350 million term loan B (B1/BB-) at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.
Also, the original issue discount on the term loan was tightened to 99.75 from 99.5, the source said.
The term loan still has a 0% Libor floor.
Bank of America Merrill Lynch is the left lead bank on the deal.
Proceeds will be used to refinance an existing term loan.
Oxbow Carbon is a West Palm Beach, Fla.-based recycler of refinery and natural gas byproducts.
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