PVC maker Inovyn plans tweaks to TLB
Inovyn, an Ineos entity, is marketing an increase, extension and alteration to €1.064bn of term loans, pushing out maturities from 2025 to 2027 and adding another €250m to its debt stack. But the Ba3/BB- rated borrower is not seeking any margin cut. The 200bp spread is already at the effective floor for European leveraged loans.
Bank of America and JP Morgan are global coordinators on the refinancing, which follows recent amendments and refinancings by other Ineos-affliated entities, including Ineos Styrolution, and Ineos Enterprises.A banker at one of the leads declined to give details on the covenant amendments which would be ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org