AOC lifts term loan to $400 million, changes OID to 97.25

By Sara Rosenberg

New York, Jan. 26 – AOC LLC (LSF11 A5 HoldCo LLC) upsized its non-fungible incremental term loan due Oct. 15, 2028 to $400 million from $350 million, according to a market source.

Also, the company revised original issue discount talk on the term loan to a range of 96.5 to 97 from a range of 96 to 96.5 in the morning and then tightened the discount to 97.25 in the afternoon, the source said.

Pricing on the term loan remained at SOFR+10 basis points CSA plus 425 bps with a 0.5% floor.

The incremental term loan still has 101 soft call protection for six months.

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

Commitments were scheduled to be due at 5 p.m. ET on Thursday, accelerated from an original deadline of noon ET on Friday, the source added.

Allocations are expected on Friday.

Proceeds will be used with cash on hand to fund a shareholder distribution and pay related fees and expenses.

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

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