Fairmount Minerals withdraws $815 million term loan repricing

By Sara Rosenberg

New York, Feb. 12 - Fairmount Minerals Ltd. decided to pull its roughly $815 million senior secured term loan repricing request from the market due to market conditions, according to a source.

The loan due March 15, 2017 was talked at Libor plus 325 basis points to 350 bps with a 1.25% Libor floor, a par offer price and 101 soft call protection for six months.

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

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

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