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Moody’s gives Gemini loan Ba3
Moody’s Investors Service said it gave a Ba3 rating to Gemini HDPE LLC’s proposed $600 million senior secured term loan B debt issue to finance Ineos’ acquisition of its partner Sasol’s 50% interest in the Gemini joint venture.
Moody’s also affirmed the Ba3 rating on Gemini’s senior secured term loan due 2024, which will be repaid at the new facility’s close.
Gemini HDPE’s outlook remains negative.
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