Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hexion Specialty Chemicals, Inc. > News item |
Hexion talks $825 million eight-year notes: fixed-rate at 9½% area, floaters at Libor plus 425 bps area
By Paul A. Harris
St. Louis, Oct. 25 - Hexion Specialty Chemicals Inc. issued price talk on its $825 million two-part offering of eight-year senior secured second-priority notes (B3/B-), which are expected to price by the end of the week, according to market sources.
The Columbus, Ohio-based maker of thermoset resins has talked its tranche of fixed-rate notes at the 9½% area and its tranche of floating-rate notes at the Libor plus 425 basis points area.
Tranche sizes remain to be determined.
Credit Suisse and JP Morgan are joint bookrunners.
Proceeds will be used to fund a debt recapitalization, including the payment of a dividend to sponsor Apollo Management.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.