PQ Corp. details $947.5 million loan repricing and extension

By Paul A. Harris

Portland, Ore., Jan. 27 – PQ Corp. detailed a repricing and extension effort underway for its $947,497,500 senior secured term loan B (B1/BB-), according to a market source.

The extension would push out the maturity by seven years.

Price talk is Libor plus 200 to 225 basis points at 99.75, with a 0% Libor floor.

Existing lender commitments are due on Feb. 3. New lender commitments are due Feb. 4.

The 101 soft call protection would reset for six months.

The deal amortizes at an annual rate of 1%.

Citigroup is the lead arranger. Credit Suisse is the administrative agent.

PQ Corp. is a Malvern, Pa.-based supplier of silicates, sulfuric acid and zeolite catalysts.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.