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Gemini HDPE firms $406 million term loan B at Libor plus 250 bps
By Sara Rosenberg
New York, Dec. 5 – Gemini HDPE LLC finalized pricing on its $406 million senior secured term loan B (Ba2/BB) due Aug. 7, 2024 at Libor plus 250 basis points, the high end of the Libor plus 225 bps to 250 bps talk, according to a market source.
As before, the term loan has a 0% Libor floor, a par issue price and 101 soft call protection for six months.
Barclays is the bookrunner on the deal.
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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