Rain Industries updates on consolidated term debt

Initmates on proposed allocation of New Term Loan B Facility and proposed redemption of Senior Secured Notes due 2021

Rain Industries intimated that its wholly owned subsidiary, Rain Carbon Inc. (RCI) announced on 11 December 2017 that the joint arrangers for RCI's new proposed senior secured facilities, comprised of a 390 million term loan B facility and a $150 million revolving credit facility have allocated the loans to be made under the RCI Term Loan B Facility.

RCI expects that loans made under the RCI Term Loan B facility will bear interest at a rate per annum equal to EURIBOR plus 3.00% and that the borrowing under the RCI Revolving Credit Facility will bear interest at a rate per annum equal to LIBOR plus 2.50%.

RCI also announced that its wholly owned subsidiary, Rain CII Carbon LLC has conditionally called for a full redemption of RCC's outstanding 8.25% US dollar- denominated Senior Secured Notes due 2021 and of RCC's outstanding 8.50% Euro-denominated Senior Secured Noted 2021. The consummation of the RCI Senior Credit Facilities and proposed redemption of the RCC Notes are expected to occur on 16 January 2018.

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