Samchully ups spread on $300 million term loan B to Libor plus 475 bps

By Sara Rosenberg

New York, Oct. 14 – Samchully Midstream increased pricing on its $300 million seven-year term loan B (B1/B) to Libor plus 475 basis points from talk of Libor plus 400 bps to 425 bps, according to a market source.

Also, the original issue discount on the loan widened to 98˝ from 99, the source said.

The loan still has a 1% Libor floor.

Included in the deal is 101 soft call protection for one year.

Bank of America Merrill Lynch is the lead bank on the term loan.

Proceeds will be used to help fund the acquisition of a 34% interest in Cardinal Gas Services LLC, a midstream company in Ohio’s Utica shale play.

© 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.