Oxbow Carbon finalizes $350 million term loan at SOFR plus 400 bps

By Sara Rosenberg

New York, May 5 – Oxbow Carbon LLC set pricing on its $350 million seven-year term loan B at SOFR plus 400 basis points, the high end of the SOFR plus 375 bps to 400 bps talk, according to a market source.

As before, the term loan B has 10 bps CSA, a 0.5% floor, an original issue discount of 98 and 101 soft call protection for one year.

The company’s $900 million of credit facilities (B1/BB-) also include a $325 million revolver and a $225 million term loan A.

BofA Securities Inc., JPMorgan Chase Bank, Rabobank, Truist, Capital One, Citizens, Wells Fargo Securities LLC and Societe Generale are the arrangers on the deal.

Proceeds will be used to refinance the company’s existing senior secured credit facilities.

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

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