FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Orion Engineered Carbons Enters Into Sustainability-Linked Term Loan

October 07, 2021, 07:00 AM
Filed Under: Energy

Orion Engineered Carbons, a leading global supplier of specialty and high-performance carbon black, announced the successful issuance of a $650 million-equivalent 7-year sustainability-linked Term Loan B, across Euros and U.S. Dollars. With this transaction, Orion has replaced its existing Term Loan B that was scheduled to mature in July 2024 and termed out maturities to September 2028. The transaction is leverage neutral, resulting in total net leverage of approximately 2.4 times, post issuance.

Goldman Sachs Bank USA was the Sole Bookrunner on the refinancing and served as the Sole ESG Structuring Advisor.

“We are a performance-driven organization committed to creating long-term growth and being a responsible global corporate citizen. Our value creation strategy is founded on growing economic profit while also advancing our ESG goals,” said Corning Painter, Orion’s chief executive officer.

Painter added, “With that in mind, we are excited to broaden our commitment to responsible growth by securing this sustainability-linked loan, clearly aligning the commitments we have made to our stakeholders with the financing costs of the company. I am particularly proud that the loan has been accepted by the investor community in both European and U.S. markets, reflecting confidence in our financial strength, future business performance and long-term strategy.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.