Vantage Specialty tightens OID on $75 million add-on term B to 99¾

By Sara Rosenberg

New York, Nov. 26 - Vantage Specialty Chemicals modified the original issue discount on its $75 million add-on term loan B to 99¾ from 991/2, according to a market source.

Pricing on the loan is Libor plus 375 basis points with a 1.25% Libor floor, and there is 101 soft call protection for six months.

RBC Capital Markets is the lead bank on the deal.

Proceeds from the add-on will be used to fund a dividend to shareholders.

Vantage is a Chicago-based specialty chemicals company.

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