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Gemini HDPE talks $406 million term loan B at Libor plus 225-250 bps
By Sara Rosenberg
New York, Nov. 28 – Gemini HDPE LLC launched on Tuesday its $406 million seven-year senior secured term loan B (BB) with price talk of Libor plus 225 basis points to 250 bps with a 0% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Barclays is the bookrunner on the deal.
Commitments are due at 5 p.m. ET on Monday, the source added.
Proceeds will be used to amend an existing term loan B.
Gemini HDPE is a bimodal, high-density polyethylene plant in Texas.
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