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Sheridan Production Partners seeks $700 million seven-year term loans
By Sara Rosenberg
New York, March 25 - Sheridan Production Partners is in market with $700 million in seven-year term loan debt, according to a market source.
UBS and JPMorgan are the lead banks on the deal that launched with a bank meeting on Wednesday.
Price talk on the term loans is Libor plus 450 basis points with a 2% Libor floor and an original issue discount in the 98 to 99 area, the source said.
Proceeds will be used to refinance an existing revolver.
Sheridan is a Houston-based oil and gas production company.
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