Pricing flexed down 25 basis points to LIBOR plus 23/4% on the $175 million "B" loan backing Ionics' acquisition of Ecolochem. UBS, Bank of America and Fleet Securities are leading the facility. In addition, the size of the revolver was increased from $75 million to $80 million. The changes were based on demand, a banker said. The deal was allocated last Tuesday and was expected to close at the end of last week.
Ionics Flexes Down, Increases Revolver