SunCoke Energy sets discount on $30 million incremental term B at 98

By Sara Rosenberg

New York, Dec. 13 - SunCoke Energy Inc. firmed the original issue discount on its $30 million incremental term loan B due July 2018 at 98, the tight end of the 97½ to 98 talk, according to a market source.

Pricing on the incremental loan is Libor plus 300 basis points with a 1% Libor floor, in line with existing term loan pricing.

When done in July, the existing loan was sold at an original issue discount of 991/2.

Commitments were due at 1 p.m. ET on Tuesday, accelerated from 3 p.m. ET on Tuesday.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used for general corporate purposes.

With the incremental debt, the company's term loan tranche size will be about $329 million.

SunCoke is a Lisle, Ill.-based producer of metallurgical coke.

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