Oxbow Carbon talks $400 million term loan B at Libor plus 425-450 bps

By Sara Rosenberg

New York, Sept. 30 – Oxbow Carbon launched on Wednesday its $400 million five-year term loan B (B1/BB-) with price talk of Libor plus 425 basis points to 450 bps with a 0.75% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

BofA Securities Inc., J.P. Morgan Securities LLC, Rabobank, Truist, Capital One and Citizens Bank are the leads on the deal.

Commitments are due at 11 a.m. ET on Oct. 9, the source added.

Proceeds will be used to refinance existing debt.

Oxbow Carbon is a West Palm Beach, Fla.-based recycler of refinery and natural gas byproducts.

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