AnQore firms term loan B size at €300 million, OID at 93

By Sara Rosenberg

New York, July 21 – AnQore BV finalized the size of its term loan B due December 2027 at €300 million, the high end of the €270 million to €300 million talk, according to a market source.

Additionally, the original issue discount on the term loan was set at 93, the wide end of the 93 to 94 talk, and some changes were made to documentation, the source said.

Pricing on the term loan remained at Euribor plus 550 basis points with a 0% floor.

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

Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Rabobank are the physical bookrunners on the deal. NatWest Markets plc, RBC Capital Markets and Standard Chartered are mandated lead arrangers and non-physical bookrunners. Rabobank is the administrative agent.

The term loan is expected to free to trade on Monday, the source added.

Proceeds will be used to amend and extend an existing €300 million term loan B due December 2024.

AnQore, owned by CVC and DSM-Firmenich, is a Urmond, the Netherlands-based specialist chemical producer supplying acrylonitrile and cyanides to customers in high value growing end-markets.

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