Cyanco launches $420 million term loan B at SOFR plus 475-500 bps

By Sara Rosenberg

New York, June 15 – Cyanco Intermediate 2 Corp. launched on Thursday its $420 million five-year covenant-lite term loan B (B2/B) with price talk of SOFR plus 475 basis points to 500 bps with a 0% floor and an original issue discount of 97, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc., RBC Capital Markets and Societe Generale are the bookrunners on the deal.

Commitments are due at noon ET on June 29.

Proceeds will be used to refinance an existing term loan B.

Cashless roll is available.

Cyanco is a Sugar Land, Tex.-based supplier of sodium cyanide and the only pure play provider in the market with world-scale capabilities in both liquid and solid-form NaCN.

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