Clean Harbors launches $397 million term loan at Libor plus 175 bps

By Sara Rosenberg

New York, April 5 – Clean Harbors Inc. launched on Thursday its $397 million senior secured first-lien term loan (Baa3/BBB-) due June 2024 with price talk of Libor plus 175 basis points with a 0% Libor floor and a par issue price, according to a market source.

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

Goldman Sachs Bank USA is the lead on the deal.

Commitments are due at noon ET on April 12, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 200 bps with a 0% Libor floor.

Clean Harbors is a Norwell, Mass.-based provider of environmental, energy and industrial services.

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