Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Sylvamo Corp. > News item |
Sylvamo trims term loan B to $450 million, widens price talk
By Sara Rosenberg
New York, Aug. 19 – Sylvamo Corp. downsized its seven-year term loan B to $450 million from $500 million and revised price talk to a range of Libor plus 425 basis points to 450 bps from a range of Libor plus 275 bps to 300 bps, according to a market source.
Also, the original issue discount on the term loan was set at 99, the wide end of the 99 to 99.5 talk, and the 101 soft call protection was extended to one year from six months, the source said.
The term loan still has a 0.5% Libor floor.
BofA Securities Inc. is the lead on the deal.
Commitments are due at 10 a.m. ET on Friday, the source added.
Proceeds will be used with $450 million of senior notes, downsized from $500 million, to help fund the spinoff of the company from International Paper.
Sylvamo is a Memphis-based printing papers company.
© 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.