Cyanco changes issue price on $75 million incremental loan to par

By Sara Rosenberg

New York, Oct. 31 – Cyanco Intermediate 2 Corp. revised the issue price on its $75 million incremental covenant-light first-lien term loan (B2/B) due March 2025 to par from 99.75, according to a market source.

As before, pricing on the incremental term loan is Libor plus 350 basis points with a 0% Libor floor, and the debt has 101 soft call protection for six months.

Deutsche Bank Securities Inc., RBC Capital Markets, Societe Generale and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.

Recommitments were scheduled to be due at noon ET on Wednesday, the source said.

Proceeds will be used to refinance existing debt.

Cyanco is a Pearland, Texas-based supplier of sodium cyanide used for the extraction of gold and silver.

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