Methanex Corporation Announces Successful Syndication of Acquisition Financing
Methanex (TSX:MX, NASDAQ:MEOH) has successfully syndicated acquisition financing for its previously announced $2.05 billion acquisition of OCI Global's international methanol business. The financing package includes up to $650 million in Term Loan A commitments with variable interest rates and flexible repayment terms, and a $600 million revolving credit facility split between a $400 million five-year tranche and a $200 million three-year tranche. The syndication banks continue to underwrite the remaining $525 million bridge facility. The new facilities will replace the company's existing $500 million facility and include consistent financial covenants.
Methanex (TSX:MX, NASDAQ:MEOH) ha concluso con successo il finanziamento per l'acquisizione della divizia internazionale di metanolo di OCI Global, annunciata in precedenza, del valore di 2,05 miliardi di dollari. Il pacchetto di finanziamento include fino a 650 milioni di dollari in impegni di Term Loan A con tassi di interesse variabili e condizioni di rimborso flessibili, e una linea di credito revolving di 600 milioni di dollari suddivisa tra una tranche di 400 milioni di dollari a cinque anni e una tranche di 200 milioni di dollari a tre anni. Le banche di sindacato continuano a sottoscrivere il restante 525 milioni di dollari di finanziamento bridge. Le nuove strutture sostituiranno la linea di credito esistente dell'azienda di 500 milioni di dollari e comprenderanno covenant finanziari coerenti.
Methanex (TSX:MX, NASDAQ:MEOH) ha cerrado con éxito el financiamiento para la adquisición de la división internacional de metanol de OCI Global, previamente anunciada, por un total de 2.05 mil millones de dólares. El paquete de financiamiento incluye hasta 650 millones de dólares en compromisos de Term Loan A con tasas de interés variables y condiciones de reembolso flexibles, y una línea de crédito revolvente de 600 millones de dólares dividida entre un tramo de 400 millones de dólares a cinco años y un tramo de 200 millones de dólares a tres años. Los bancos sindicados continúan respaldando el resto del financiamiento puente de 525 millones de dólares. Las nuevas instalaciones reemplazarán la línea de crédito existente de 500 millones de dólares de la empresa e incluirán convenios financieros coherentes.
메타넥스 (TSX:MX, NASDAQ:MEOH)가 이전에 발표한 OCI 글로벌의 국제 메탄올 사업 인수에 대한 20억 5천만 달러 인수 자금 조달에 성공적으로 참여했습니다. 자금 조달 패키지에는 6억 5천만 달러의 변동 금리를 가진 Term Loan A 약정과 유연한 상환 조건이 포함되어 있으며, 6억 달러의 재무 회전 신용 시설이 포함되어 있습니다. 이 재무 회전 신용 시설은 4억 달러에 해당하는 5년 만기 분과 2억 달러에 해당하는 3년 만기 분으로 나뉩니다. 신디케이트 은행들은 여전히 5억 2천5백만 달러의 브리지 시설을 인수 중입니다. 새로운 시설들은 회사의 기존 5억 달러 시설을 대체하며 일관된 재정 계약을 포함할 것입니다.
Methanex (TSX:MX, NASDAQ:MEOH) a réussi à syndiquer le financement de l'acquisition de la division internationale de méthanol d'OCI Global, précédemment annoncée, pour un montant de 2,05 milliards de dollars. Le paquet de financement comprend jusqu'à 650 millions de dollars d'engagements de Term Loan A avec des taux d'intérêt variables et des conditions de remboursement flexibles, et une facilité de crédit revolving de 600 millions de dollars répartie entre une tranche de 400 millions de dollars sur cinq ans et une tranche de 200 millions de dollars sur trois ans. Les banques de syndicat continuent de souscrire au reste de la facilité de bridge de 525 millions de dollars. Les nouvelles facilités remplaceront celle existante de 500 millions de dollars de la société et incluront des engagements financiers cohérents.
Methanex (TSX:MX, NASDAQ:MEOH) hat erfolgreich die Finanzierung für die zuvor angekündigte Übernahme der internationalen Methanol-Sparte von OCI Global in Höhe von 2,05 Milliarden Dollar syndiziert. Das Finanzierungspaket umfasst bis zu 650 Millionen Dollar an Term Loan A-Verpflichtungen mit variablen Zinssätzen und flexiblen Rückzahlungsbedingungen sowie eine revolvierende Kreditlinie in Höhe von 600 Millionen Dollar, aufgeteilt in einen 400 Millionen Dollar-Tranche über fünf Jahre und einen 200 Millionen Dollar-Tranche über drei Jahre. Die Syndikat-Banken unterzeichnen weiterhin die verbleibenden 525 Millionen Dollar Brückenkreditfazilität. Die neuen Einrichtungen ersetzen die bestehende 500 Millionen Dollar-Fazilität des Unternehmens und beinhalten konsistente finanzielle Covenants.
- Secured $1.25 billion in committed financing for the OCI acquisition
- Flexible repayment terms on Term Loan A supporting de-leveraging strategy
- Increased revolving credit facility from $500M to $600M
- Unanimous support from banking partners indicating strong financial credibility
- Taking on significant debt of $2.05B for the acquisition
- Exposure to variable interest rates on Term Loan A
- Increased leverage and financial obligations
Insights
The successful syndication of
The variable interest rate structure and flexible repayment terms on the Term Loan A are particularly strategic, enabling aggressive de-leveraging post-acquisition. The expanded revolving credit facility, increasing from
VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) (“Company”) announced today the successful syndication of acquisition financing to support the earlier announced agreement to acquire OCI Global’s international methanol business (“OCI Acquisition”) for
The new financing arrangements are with a syndicate of highly rated financial institutions and include:
- Up to
$650 million in Term Loan A commitments which can be drawn upon closing of the OCI Acquisition. The Term Loan A carries a variable interest rate and is split between three and four-year tenors that can be flexibly repaid to support de-levering.
$600 million in revolving credit facility commitments, split between a$400 million tranche which will have a renewed five-year tenor and a$200 million tranche with a three-year tenor, both from closing of the OCI Acquisition. This new facility will replace the Company’s existing$500 million facility which remains available until the transaction closes.
- Both the Term Loan A and new revolving credit facility include financial covenants consistent with the Company’s existing credit facilities.
The syndication banks continue to underwrite the remaining bridge facility of
Dean Richardson, Senior Vice President, Finance & Chief Financial Officer of Methanex, said, “I am pleased to announce this successful syndication which had the unanimous support of our banking partners. The structure of the Term Loan A provides flexibility to support our commitment to de-lever.”
Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the NASDAQ Global Market in the United States under the trading symbol “MEOH”. Methanex can be visited online at www.methanex.com.
Inquiries:
Sarah Herriott
Director, Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1-800-661-8851
www.methanex.com
FAQ
What is the total value of Methanex (MEOH) acquisition financing for OCI Global's methanol business?
What are the terms of Methanex's (MEOH) new revolving credit facility?
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