Tata Chemicals launches $380 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, March 3 – Tata Chemicals North America Inc. launched on Tuesday its $380 million seven-year term loan (Ba3/BB) with price talk of Libor plus 375 basis points with a 0% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due at 5 p.m. ET on March 12, the source added.

Proceeds will be used to help repay an existing term loan and a bridge loan.

Tata Chemicals North America is a Sandy, Utah-based producer of soda ash.

© 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.