Methanol Holdings to launch $600 million credit facility on Tuesday

By Sara Rosenberg

New York, June 1 – Methanol Holdings (Trinidad) Ltd. is set to hold a bank meeting on Tuesday to launch a $600 million credit facility, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The facility consists of a $300 million five-year revolver and a $300 million seven-year term loan B, the source said.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Methanol Holdings is a Couva, Trinidad-based producer, marketer and distributor of methanol.

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