Pricing Cut On ISP

Pricing has been cut on the $950 million term loan for Wayne, N.J.-based chemical manufacturer ISP Chemco, a subsidiary of International Specialty Holdings Corp.

  • 10 Feb 2006
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Pricing has been cut on the $950 million term loan for Wayne, N.J.-based chemical manufacturer ISP Chemco, a subsidiary of International Specialty Holdings Corp. The pricing on the seven-year term loan has been cut from the proposed rate of LIBOR plus 2% to LIBOR plus 1 3/4%. Pricing on a six-year, $200 million revolving credit facility held at LIBOR plus 2%. The company is using the deal to repay its bonds due in 2009 and 2011 (CIN, 1/30). JPMorgan began syndicating the loan Jan. 20. Neal Murphy, senior v.p. and cfo at ISP Chemco, was not available for comment.

  • 10 Feb 2006

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4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

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