Orion Engineered Carbons to reprice $650 million equivalent loans

By Paul A. Harris

Portland, Ore., Sept. 7 – Orion Engineered Carbons SA and OEC Finance US LLC began marketing to lenders a $650 million equivalent repricing of its seven-year senior secured dollar-denominated and euro-denominated sustainability-linked term loans B (existing ratings Ba2/BB), according to a market source.

Sole bookrunner and lead arranger Goldman Sachs is the agent. Deutsche Bank, ING and UniCredit are also lead arrangers.

The Luxembourg-based manufacturer of carbon-based coatings is seeking to refinance approximately $652 million equivalent of its dollar- and euro-denominated term loan B paper.

The 101 soft call protection on both tranches will reset to six months.

The dollar-denominated loan amortize at an annual rate of 1%.

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