Angus Chemical finalizes $125 million term loan at 93 OID

By Sara Rosenberg

New York, Nov. 4 – Angus Chemical Co. firmed the original issue discount on its non-fungible $125 million incremental term loan (B2/B-/BB-) due November 2027 at 93, the tight end of the 92 to 93 talk, according to a market source.

Additionally, the company extended the 101 soft call protection on the incremental term loan to one year from six months, the source said.

Pricing on the incremental term loan remained at SOFR plus 475 basis points with a 25 bps step-down upon an initial public offering and a 0.75% floor.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used for general corporate purposes, to fund an acquisition and to refinance existing debt.

Angus is a Buffalo Grove, Ill.-based specialty and fine chemical company.

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