Strategic Materials seeks amendment to shift term loan debt to SOFR

By Sara Rosenberg

New York, Jan. 26 – Strategic Materials Inc. is looking to amend its term loan debt to migrate to SOFR from Libor, according to a market source.

Also, CSA would be added of roughly 11 basis points one-month rate, 26 bps three-month rate and 43 bps six-month rate, the source said.

Goldman Sachs Bank USA is the lead on the deal.

The amendment deadline is Friday, the source added.

Strategic Materials is a Houston-based comprehensive glass recycler.

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