Sheridan Production launches $800 million term B at Libor plus 400 bps

By Sara Rosenberg

New York, May 14 - Sheridan Production Partners launched its $800 million term loan B (B1) on Monday with price talk of Libor plus 400 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The loan has 101 soft call protection for one year, the source said.

Citigroup Global Markets Inc., Bank of America Merrill Lynch, BMO Capital Markets Corp., RBS Securities Inc., UBS Securities LLC and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Sheridan Production Partners is a Houston-based oil and gas production company.

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