Sheridan Production Partners to launch $800 million loan on Tuesday

By Sara Rosenberg

New York, Sept. 14 - Sheridan Production Partners has set a lender call for 4 p.m. ET on Tuesday to launch an $800 million seven-year term loan, according to a market source.

The company will then host a separate call for lenders to go through the structure at 11 a.m. ET on Wednesday.

UBS Securities LLC, Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the joint bookrunners on the deal.

Price talk on the loan is Libor plus 400 basis points to 425 bps with a 1.25% Libor floor and an original issue discount of 99, the source said.

The loan includes 101 soft call protection for one year.

Proceeds will be used to refinance existing debt.

Sheridan Production Partners is a Houston-based oil and gas production company.

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