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.
Promoted By CGIF
Promoted By Commerzbank
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||7,026||25||11.95|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||SG Corporate & Investment Banking||1,292.64||1||7.32%|
|5||Bank of America Merrill Lynch||1,226.20||5||6.94%|