MD America revises discount on $525 million second-lien loan to 95

By Sara Rosenberg

New York, July 30 – MD America Energy LLC widened the original issue discount on its $525 million five-year second-lien term loan (Caa2/CCC+) to 95 from 98, according to a market source.

Pricing on the term loan remained at Libor plus 850 basis points with a 1% Libor floor, and it is still non-callable for one year, then at 103 in year two and 101 in year three.

Credit agreement comments are due on Thursday and allocations are expected as early as Friday, the source added.

Bank of America Merrill Lynch and Jefferies Finance LLC are the leads on the deal.

Proceeds will be used to refinance existing debt.

MD America is an upstream oil and gas company.

© 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.