Lummus launches roughly $1 billion term loan at SOFR plus 350 bps

By Sara Rosenberg

New York, Jan. 22 – Lummus Technology Holdings V LLC was scheduled to hold a lender call at 2 p.m. ET on Monday to launch an extension of its roughly $1 billion first-lien term loan by 2.5 years to December 2029, according to a market source.

Price talk on the extended term loan is SOFR+CSA plus 350 basis points with a 0% floor and an original issue discount of 99.5, the source said.

CSA is 11 bps one-month rate, 26 bps three-month rate and 42 bps six-month rate.

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

The company also expects to extend its existing revolving credit facility and letter-of-credit facility by 2.5 years to December 2027.

UBS Investment Bank is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Jan. 29, the source added.

Lummus is a provider of process licenses, engineering services, catalysts and equipment for polymers & petrochemicals, services & supplies, clean fuels and crude-to-chemical, and new ventures.

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