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Momentive Performance talks asset-based revolver at Libor plus 275 bps
By Sara Rosenberg
New York, April 17 - Momentive Performance Materials Inc. said in an 8-K filed with the Securities and Exchange Commission on Thursday that its $270 million asset-based revolver is talked at Libor plus 275 basis points.
As previously reported, the company is also getting a $300 million term loan talked at Libor plus 400 bps with a 1% Libor floor and an original issue discount of 991/2.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA and UBS Securities LLC are the lead banks on the $570 million debtor-in-possession financing facility that launched on Thursday.
Proceeds will be used to help fund the company's Chapter 11 restructuring process.
Momentive is an Albany, N.Y.-based silicones and advanced materials company.
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