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Olin refinances debt, rearranges credit facilities

10:44 AM MDT | June 25, 2014 | Vincent Valk

Olin says it is refinancing its 8.875% senior bonds due in 2019, using an existing $265-million senior revolving credit facility and a delayed draw-down term loan to pay down the debt. The credit facilities will be replaced by new facilities totaling $415 million. The new facilities a $215-million credit revolver, a $150-million delayed-draw term loan, and a $50-million revolver. All three facilities mature in 2019, and the latter two may be accessed by both Olin and one of the company's Canadian subsidiaries. Olin has also entered into agreements with some US...

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