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Orion Engineered Carbons Completes Syndication of Term Loan Under its New Credit Agreement

August 11, 2014

Orion Engineered Carbons S.A. has  successfully completed the syndication process, including the final pricing of the interest rate spreads, for the €665 million term loan under its new credit agreement, which it entered into prior to the closing of its IPO last month. The term loan will bear interest at an annual rate of LIBOR/EURIBOR (minimum 1.00 percent) plus 4.00 percent, subject to downward adjustment based on Orion’s leverage ratio as set forth in the credit agreement. As part of the refinancing implemented prior to the closing of the IPO, Orion drew down the term loan and used the proceeds to repay its existing indebtedness and related expenses. The credit agreement also provides for a €115 million revolving credit facility, bearing interest at an annual rate of LIBOR/EURIBOR (minimum 1.00 percent) plus 3.00 percent, subject to downward adjustment. With the completion of the syndication process the terms of the credit agreement are fixed.

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