Eagle SpinCo/Georgia Gulf to sell $688 million eight-year notes

By Paul A. Harris

Portland, Ore., Jan. 14 - Eagle SpinCo, which will become a wholly owned subsidiary of Georgia Gulf, plans to start a roadshow on Tuesday in New York City for a $688 million offering of eight-year senior notes (expected ratings Ba3/BB-), according to a syndicate source.

The roadshow moves to Boston on Wednesday and to the West Coast of the United States on Thursday.

The deal is set to price before the end of the present week.

Barclays is the lead left bookrunner. J.P. Morgan Securities LLC, RBC Capital Market and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S with registration rights notes come with five years of call protection.

Proceeds will be used to fund the acquisition of Eagle SpinCo Inc. (PPG Commodity Chemicals) from PPG.

The prospective issuer is a Pittsburgh-based producer of chlorine, caustic soda and related chemicals.

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