Bloomberg: W.R. Grace Said to Cut Rate on Bankruptcy Exit Loan
Bloomberg reported W.R. Grace & Co. cut the rate it’s paying on a $900 million loan to support its bankruptcy emergence, and will pay interest at 2.25 percentage points more than the London interbank offered rate compared with 2.5 percentage points more than the lending benchmark initially proposed, citing a person with knowledge of the transaction.
The exit financing includes a $400 million revolver and a $250 million delayed-draw term loan, the latter of which is being arranged by Goldman Sachs Group, Deutsche Bank AG, Bank of America and HSBC Holdings Plc, Bloomberg said further.
To read the entire Bloomberg article, click here.
Previously on abfjournal: Bloomberg: W.R. Grace Seeks $1.55B for Bankruptcy Exit, January 9, 2014