Sonneborn finalizes first-lien loan repricing at Libor plus 375 bps

By Sara Rosenberg

New York, June 9 – Sonneborn LLC firmed pricing on its $279.3 million first-lien term loan (B1) at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, according to a market source.

As before, the loan has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Macquarie Capital (USA) Inc. is the arranger on the deal.

Proceeds will be used to reprice the company’s existing first-lien term loan from Libor plus 450 bps with a 1% Libor floor.

Sonneborn is a Parsippany, N.J.-based manufacturer and supplier of high-purity specialty hydrocarbons.

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