CCS tightens discount on C$200 million add-on term loan to 99

By Sara Rosenberg

New York, Jan. 17 - CCS Corp. moved the original issue discount on its C$200 million add-on term loan due November 2014 to 99 from 98, according to a market source.

Pricing on the loan was left unchanged at Libor plus 500 basis points with a 1.5% Libor floor.

Commitments were due on Tuesday, accelerated from the original deadline of Wednesday, the source added.

Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the lead banks on the deal.

Proceeds will be used to refinance revolver borrowings.

CCS is a Calgary, Alta.-based oil and gas environmental services company.

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