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Texas Petrochemicals talks $280 million term loan B at Libor plus 225-250 bps
By Paul A. Harris
St. Louis, April 20 - Texas Petrochemicals LP issued price talk on its $280 million seven-year covenant-light term loan B of Libor plus 225 to 250 basis points, according to a market source.
The $395 million credit facility also includes a $115 million asset-based revolver.
Deutsche Bank and Credit Suisse are leading the deal, with Deutsche as the left lead.
Proceeds will be used to help fund the acquisition of Huntsman Corp.'s U.S. butadiene and related MTBE operations.
The Houston-based company produces butadiene, butene-1, and methyl tertiary-butyl ether.
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