Fairmount Minerals launches loan repricing at Libor plus 325-350 bps

By Sara Rosenberg

New York, Feb. 5 - Fairmount Minerals Ltd. launched the repricing of its roughly $815 million senior secured term loan due March 15, 2017 at Libor plus 325 basis points to 350 bps with a 1.25% Libor floor and a par offer price, according to a market source.

The repriced loan has 101 soft call protection for six months, the source said.

Barclays and KeyBanc Capital Markets are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on Feb. 12.

Net senior secured and total leverage are 2.6 times, the source added.

Fairmount is a Chardon, Ohio-based producer of industrial sand.

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