SunCoke Energy launches $30 million incremental term loan B

By Sara Rosenberg

New York, Dec. 12 - SunCoke Energy Inc. launched a $30 million incremental term loan B due July 2018 to existing lenders only on Monday, according to a market source.

J.P. Morgan Securities LLC is the left lead bank on the deal.

Pricing on the incremental loan is Libor plus 300 basis points with a 1% Libor floor, in line with existing pricing, the source said.

The new debt is being offered at an original issue discount of 97½ to 98, the source added. When done in July, the existing loan was sold at an original issue discount of 991/2.

Proceeds will be used for general corporate purposes.

Commitments are due at 3 p.m. ET on Tuesday.

With the incremental debt, the company's term loan tranche size will be about $329 million.

SunCoke is a Lisle, Ill.-based producer of metallurgical coke.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.