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Koppers (KOP) Concludes Repricing & Upsizing of Term Loan B
KOPKoppers Holdings(KOP) Zacks Investment Research·2024-04-16 11:56

Koppers Holdings Inc. (KOP) has successfully concluded the upsizing and repricing of its seven-year 397millionseniorsecuredTermLoanB(TLB),dueApr10,2030.Inadditiontoeliminatingthe10basispoint(bp)creditspreadadjustmentfromtheTLB′spricingstructure,thistransactionlowerstheinterestratemarginsapplicabletotheTLBby50bps,from3.50397 million senior secured Term Loan B (TLB), due Apr 10, 2030.In addition to eliminating the 10 basis point (bp) credit spread adjustment from the TLB's pricing structure, this transaction lowers the interest rate margins applicable to the TLB by 50 bps, from 3.50% with a floor of 50 bps to 3.00% with a floor of 50 bps at adjusted Term SOFR Rate or adjusted Daily Simple SOFR. The TLB was also increased by ...