Oxbow Carbon to launch $750 million in term loans on Tuesday

By Sara Rosenberg

New York, Dec. 1 – Oxbow Carbon LLC is set to hold a bank meeting in New York on Tuesday to launch $750 million in term loans, according to a market source.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, PNC, Rabobank and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

The debt consists of a $575 million five-year covenant-light first-lien term loan and a $175 million six-year covenant-light second-lien term loan, the source said.

Proceeds will be used to refinance existing debt.

Oxbow Carbon is a West Palm Beach, Fla.-based recycler of refinery and natural gas byproducts.

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