AOC launches $375 million incremental term loan at 98-98.5 OID

By Sara Rosenberg

New York, Sept. 11 – AOC LLC (LSF11 A5 HoldCo LLC) launched on Monday its fungible $375 million incremental term loan B due Oct. 15, 2028 with original issue discount talk of 98 to 98.5, according to a market source.

Pricing on the incremental term loan is SOFR+10 basis points CSA plus 425 bps with a 0.5% floor, in line with existing term loan pricing.

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

BofA Securities Inc., RBC Capital Markets and others to be announced are the arrangers on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used with cash on hand to return capital to shareholders and pay related fees and expenses.

AOC is a specialty chemicals company with U.S. headquarters in Collierville, Tenn.

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