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Orion Engineered sets U.S. and euro term loan B price talk with launch
By Sara Rosenberg
New York, Sept. 14 – Orion Engineered Carbons launched on Wednesday its $302.8 million and €347 million term loan B due July 25, 2021, with price talk of Libor/Euribor plus 325 basis points with a 0.75% floor, according to a market source.
Existing lenders are offered a 12.5 bps consent fee and new money lenders are offered a 12.5 bps original issue discount, the source said.
The term B debt has 101 soft call protection for six months.
Goldman Sachs is the lead on the deal.
Commitments are due at noon ET on Sept. 21, the source added.
Proceeds will be used to reprice existing U.S. and euro term loan B debt from Libor/Euribor plus 375 bps with a 1% floor.
Orion Engineered Carbons is a Frankfurt-based producer of carbon black.
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