AOC lifts term loan to $400 million, revises OID to 98.75

By Sara Rosenberg

New York, Sept. 15 – AOC LLC (LSF11 A5 HoldCo LLC) upsized its fungible incremental term loan B due Oct. 15, 2028 to $400 million from $375 million and tightened the original issue discount to 98.75 from talk in the range of 98 to 98.5, according to a market source.

Pricing on the incremental term loan is SOFR+10 basis points CSA plus 425 bps with a 0.5% floor, in line with existing term loan pricing.

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

BofA Securities Inc., RBC Capital Markets, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs Bank USA and Truist are the arrangers on the deal.

Commitments continued to be due at noon ET on Friday, the source added.

Proceeds will be used with cash on hand to return capital to shareholders and pay related fees and expenses.

AOC is a specialty chemicals company with U.S. headquarters in Collierville, Tenn.

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