ChampionX to launch $620 million term loan B on Wednesday

By Sara Rosenberg

New York, Sept. 12 – ChampionX Corp. is scheduled to hold a lender call at 3 p.m. ET on Wednesday to launch a $620 million term loan B due June 2029, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Price talk on the term loan is SOFR+CSA plus 275 basis points with a 0.5% floor and an original issue discount of 99.75, the source said.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Sept. 26, the source added.

Proceeds will be used to reprice an existing term loan B down from SOFR+CSA plus 325 with a 0.5% floor. CSA on the existing loan is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

ChampionX is a The Woodlands, Tex.-based provider of chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas.

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