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


NEDERLAND, Texas, March 15, 2018 /PRNewswire/ -- OCI Partners LP (NYSE: OCIP), a Delaware limited partnership (the "Partnership"), today announced the March 13, 2018 closing of its previously announced $455 million term loan B facility (the "Term Loan B Facility") and $40 million revolving credit facility (the "Revolving Credit Facility") pursuant to a Credit Agreement, dated as of March 13, 2018, among the Partnership, the lenders party thereto from time to time and Bank of America, N.A., as administrative agent.

OCI Partners LP. (PRNewsFoto/OCI Partners LP)

The Partnership used the proceeds of the Term Loan B Facility primarily to repay in full the previous term loan facility and to repay in full outstanding intercompany loans from and intercompany payables due to OCI N.V.

The initial interest rate on the Term Loan B will be, at the Partnership's option, LIBOR plus 4.25% or a base rate plus 3.25%. The Term Loan B will mature on March 13, 2025. The entry into the Term Loan B Facility is expected to generate material interest savings relative to the facility it replaced, and will extend maturities significantly.

Outstanding principal amounts under the Revolving Credit Facility bear interest at an initial interest rate of, at the Partnership's option, LIBOR plus 3.75% or a base rate plus 2.25%. The Revolving Credit Facility matures on March 13, 2020.

Both facilities include a leverage-based pricing stepdown provision.

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," "could," "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, the following: our business plans may change as the methanol and ammonia industry and markets warrant; the demand and sales prices for methanol, ammonia and their derivatives may decrease due to market, governmental and other factors; we may be unable to obtain economically priced natural gas and other feedstocks; we may be unable to successfully implement our business strategies, including the completion of significant capital programs; the occurrence of shutdowns (either temporary or permanent) or restarts of existing methanol and ammonia facilities (including our own facility); the timing and length of planned and unplanned downtime; the occurrence of operating hazards from accidents, fire, severe weather, floods or other natural disasters. 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 the Partnership's Annual Report on Form 10-K for the year ended December 31, 2017 and in the Partnership's other filings with the Securities and Exchange Commission, copies of which are available to be viewed or downloaded at by selecting "SEC Filings" on the "Financial Reporting" sub-tab found under the "Investor and Media Relations" tab, as well as on the SEC's website at Interested investors may obtain a hard copy of the Partnership's Annual Report on Form 10-K, including the Partnership's financial statements, free of charge by selecting "Annual Report" on the "Financial Reporting" sub-tab found under the "Investor and Media Relations" tab. 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  

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