Taminco firms pricing on U.S. term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Jan. 18 - Taminco finalized pricing on its roughly $345 million term loan at Libor plus 325 basis points, the tight end of the Libor plus 325 bps to 350 bps talk, according to a market source.

Also, pricing on the roughly €120 million term loan firmed at Euribor plus 350 bps, versus earlier talk of 25 bps to 50 bps wider than the U.S. loan, the source said.

Both term loans have a 1% floor and 101 soft call protection for six months.

Proceeds are being used to reprice the U.S. term loan from Libor plus 400 bps with a 1.25% Libor floor and the euro term loan from Euribor plus 425 bps with a 1.25% floor.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Nomura, UBS Securities LLC, Goldman Sachs & Co. and Apollo Global Securities are leading the deal.

The repricing is expected to go effective during the week of Jan. 21.

Taminco is a Belgium-based producer of alkylamines and their derivatives.

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