Gemini HDPE launches $411 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, Jan. 10 – Gemini HDPE LLC launched on Tuesday the repricing of its existing $411 million term loan B due Aug. 7, 2021 with talk of Libor plus 325 basis points with a 1% Libor floor and a par issue price, according to a market source.

The repriced term loan has 101 soft call protection for six months, the source said.

Barclays is the bookrunner on the deal.

Commitments/consents are due at 5 p.m. ET on Jan. 17, the source added.

The term loan will be repriced from Libor plus 375 bps with a 1% Libor floor.

Gemini HDPE is a bimodal, high-density polyethylene plant in Texas.

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