Sheridan Production revises discount on $800 million term loan to 99¾

By Sara Rosenberg

New York, Dec. 12 - Sheridan Production Partners tightened the original issue discount on its $800 million term loan (B2) to 99¾ from 991/2, according to market sources.

Pricing on the loan remained at Libor plus 350 basis points with a 0.75% Libor floor, and there is still 101 soft call protection for six months.

Bank of America Merrill Lynch, UBS Securities LLC and RBC Capital Markets are the lead banks on the deal.

Proceeds will be used to pay down revolver borrowings.

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

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