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Oxford Mining $100 million term loan A being offered at 98¾ discount
By Sara Rosenberg
New York, May 27 - Oxford Mining Co.'s $100 million four-year term loan A is being offered to investors with an original issue discount of 983/4, according to a market source.
The term loan is being talked at Libor plus 425 basis points and includes a 1% Libor floor, the source said.
Citigroup and Barclays are the lead banks on the $150 million deal, which also includes a $50 million three-year revolver talked at Libor plus 425 bps with a 1% Libor floor as well.
Proceeds will be used to refinance existing debt.
As was already reported, a bank meeting to launch the deal took place this past Tuesday.
Oxford Mining is a Coshocton, Ohio, producer of coal.
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