Sheridan Production Partners launches $800 million term loan

By Sara Rosenberg

New York, Dec. 2 - Sheridan Production Partners held a bank meeting on Monday afternoon to launch an $800 million term loan, according to market sources.

Bank of America Merrill Lynch, UBS Securities LLC and RBC Capital Markets are the lead banks on the deal.

The term loan is talked at Libor plus 350 basis points with a 0.75% Libor floor and an original issue discount of 991/2, sources said.

Included in the term loan is 101 soft call protection for six months, sources continued.

Proceeds will be used to pay down revolver borrowings.

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

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