SYS-CON MEDIA Authors: Gilad Parann-Nissany, Kevin Benedict, Unitiv Blog, Mark R. Hinkle, Glenn Rossman

News Feed Item

OCI Partners LP Announces Launch of $399 million Term Loan B Re-Pricing Transaction

NEDERLAND, Texas, March 20, 2014 /PRNewswire/ -- OCI Partners LP, a Delaware limited partnership, announced today that its wholly owned subsidiary, OCI Beaumont LLC ("OCI-B"), has commenced a re-pricing transaction for its $399 million Term Loan B outstanding. The transaction is expected to maintain all existing financial covenants on the loan as well as the same maturity date of August 20, 2019. 

OCI Partners LP.

Further details on the transaction will be announced at closing, which is expected to occur during April 2014. There can be no assurances that OCI-B will be successful in its Term Loan B re-pricing efforts.  Closing of the transaction is subject to negotiation and execution of definitive documents and satisfaction of customary closing conditions.

About OCI Partners LP

OCI Partners LP (NYSE: OCIP) owns and operates a recently upgraded, integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The facility currently has a maximum methanol production capacity of 730,000 metric tons per year and a maximum ammonia production capacity of 265,000 metric tons per year.

Forward-Looking Statements

This press release contains forward-looking statements.  Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements.  These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant and that the re-pricing of the Term Loan B may not close as expected. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of OCI Partners LP's Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission.  OCI Partners LP undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

Contacts:
Omar Darwazah
Head of Investor Relations
Phone: +1 917-434-7734
[email protected] 
www.ocipartnerslp.com

Logo - http://photos.prnewswire.com/prnh/20131118/NY18666LOGO

SOURCE OCI Partners LP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.