Press Releases

OCI Partners LP Announces Placing of New $455M Term Loan B

Feb 20, 2018

NEDERLAND, Texas, Feb. 20, 2018 /PRNewswire/ -- OCI Partners LP (NYSE: OCIP), a Delaware limited partnership (the "Partnership"), today announced that it has priced a proposed $455 million term loan B facility (the "Term Loan B Facility") and proposed $40 million revolving credit facility (the "Revolving Credit Facility").

OCI Partners LP

The proposed new Term Loan B Facility of $455 million is expected to replace and upsize OCIP's existing $232 million term loan B facility and is expected to be priced at LIBOR + 425 bps, or 250 bps lower than the existing facility, and include a leverage-based stepdown provision. As a result, the transaction is expected to generate material interest savings. The Term Loan B Facility is expected to mature in 2025, in contrast to the existing facility that matures in 2019. The commitments in respect of the Term Loan B Facility and the terms and conditions thereof (including the applicable interest rates) remain subject to the execution of the definitive documentation.

The Partnership intends to use the expected net proceeds of the Term Loan B Facility to repay in full its existing facility and to repay in full outstanding intercompany loans from OCI N.V. of $200 million.

Bank of America Merrill Lynch served as Left Lead Arranger on the transaction, Barclays Bank PLC and Crédit Agricole CIB also served as Joint Lead Arrangers on the transaction. Bank of America Merrill Lynch, Barclays Bank PLC and Crédit Agricole CIB are also expected to provide the Revolving Credit Facility priced at LIBOR + 375 bps, with a maturity in 2020.

The closing of the Term Loan B Facility and Revolving Credit Facility is expected to occur in March 2018 and is subject to customary closing conditions.

About OCI Partners LP

OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The Partnership is headquartered in Nederland, Texas and currently has a methanol production design capacity of 912,500 metric tons per year and an ammonia production design capacity of 331,000 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 known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from any future results expressed or implied from the forward-looking statements, including, among others, the risk that the proposed Term Loan B Credit Facility and/or Revolving Credit Facility does not occur when or as expected or at all, or that the pricing of the proposed Term Loan B Credit Facility and/or Revolving Credit Facility is different than the expected pricing, the Partnership's intended use of proceeds, and other known and unknown risks and uncertainties and other factors discussed in more detail in the Partnership's filings with the Securities and Exchange Commission ("SEC"), many of which are outside of the Partnership's control and are difficult to predict. The forward-looking statements contained herein are based on the Partnership's current plans, estimates, assumptions and projections. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Partnership does not make any representation as to the future accuracy of the assumptions underlying any of the statements contained herein. The information contained herein is expressed as of the date hereof and may be subject to change. The Partnership 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.

Hans Zayed
Director of Investor Relations
Phone: +1 917-817-5159