Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fairmount Minerals Ltd. > News item |
Fairmount Minerals to launch $1.25 billion in term loans on Tuesday
By Sara Rosenberg
New York, March 17 - Fairmount Minerals Ltd. is scheduled to hold a lender call at 2 p.m. ET on Tuesday to launch $1,248,000,000 in term loan debt, according to a market source.
Barclays, KeyBanc Capital Markets LLC, PNC Capital Markets LLC and Wells Fargo Securities LLC are the bookrunners on the deal.
The debt consists of a $324 million first-lien term loan B-1 due March 15, 2017 and a $924 million first-lien term loan B-2 due Sept. 5, 2019, the source said.
Proceeds will be used to reprice the existing term loan B-1 from Libor plus 400 basis points with no floor and the existing term loan B-2 from Libor plus 400 bps with a 1% Libor floor.
Fairmount Minerals is a Chesterland, Ohio-based producer of industrial sand.
© 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.