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Oxea to launch €1.04 billion equivalent credit facilities on Monday
By Sara Rosenberg
New York, Sept. 15 – Oxea GmbH is scheduled to hold a bank meeting in London on Monday to launch €1,035,000,000 equivalent of credit facilities, according to a market source.
The facilities consist of a €135 million revolver, a €450 million seven-year U.S. dollar equivalent term loan and a €450 million seven-year term loan, the source said.
Included in the term loans is 101 soft call protection for six months.
Bank of America Merrill Lynch, HSBC, J.P. Morgan Securities LLC and Unicredit are the bookrunners on the deal, with Bank of America the left lead on the U.S. loan and HSBC the left lead on the euro loan.
Proceeds will be used to refinance existing debt and add cash to the balance sheet.
Commitments are due on Sept. 28, the source added.
Oxea is a Monheim, Germany-based manufacturer of oxo intermediates and oxo derivatives.
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