Buckeye launches $1.42 billion term loan B-1 at SOFR plus 200 bps

By Sara Rosenberg

New York, Jan. 18 – Buckeye Partners LP launched on Thursday its $1.416 billion term loan B-1 due November 2026 with price talk of SOFR plus 200 basis points with no CSA, a 0% floor, an issue price of par for existing/rollover orders and an original issue discount of 99.75 for new money, according to a market source.

The term loan B-1 has 101 soft call protection for six months.

MUFG is the lead arranger on the deal.

Commitments are due noon ET on Jan. 26, the source added.

Proceeds will be used to reprice an existing term loan B-1 down from SOFR+10 bps CSA plus 225 bps with a 0% floor.

Buckeye is a Houston-based owner and operator of integrated midstream assets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.