Oxbow Carbon sets $350 million term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, April 24 – Oxbow Carbon LLC firmed pricing on its $350 million term loan B (B1/BB-) at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.

Also, the original issue discount on the term loan was tightened to 99.75 from 99.5, the source said.

The term loan still has a 0% Libor floor.

Bank of America Merrill Lynch is the left lead bank on the deal.

Proceeds will be used to refinance an existing term loan.

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

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