AOC launches $350 million incremental term loan at SOFR plus 425 bps

By Sara Rosenberg

New York, Jan. 24 – AOC LLC (LSF11 A5 HoldCo LLC) launched on Tuesday its non-fungible $350 million incremental term loan due October 2028 (B) with price talk of SOFR+10 basis points CSA plus 425 bps with a 0.5% floor and an original issue discount of 96 to 96.5, according to a market source.

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

BofA Securities Inc. is the left lead arranger on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used with cash on hand to fund a shareholder distribution.

AOC is a Schiphol, Netherlands-based producer of specialty resins.

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