Arconic Rolled Products reduces term loan B amount to $600 million

By Sara Rosenberg

New York, Feb. 3 – Arconic Rolled Products Corp. downsized its seven-year first-lien senior secured term loan B (Ba1/BB+/BBB-) to $600 million from $800 million, according to a market source.

Price talk on the term loan B is Libor plus 350 basis points with a 0% Libor floor and an original issue discount of 99.

Commitments are due on Tuesday.

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

Proceeds will be used to help fund the separation of the company from Arconic Inc.

Other funds for the transaction will come from $600 million of second-lien secured notes, upsized from $400 million with the term loan downsizing.

Arconic Rolled is an aluminum products company.

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