Ineos expected to price €1.1 billion equivalent two-part eight-year senior notes Tuesday

By Paul A. Harris

Portland, Ore., July 25 – Ineos Group Holdings SA is expected to price €1.1 billion equivalent of senior notes (expected ratings B3/B-) on Tuesday, according to market sources.

The deal is coming in dollar-denominated notes with initial guidance in the 5¾% area and euro-denominated notes with initial guidance in the 5 3/8% area, a trader said.

Tranche sizes and official price talk remain to be announced.

Global coordinator BofA Merrill Lynch is the left bookrunner for the dollar-denominated tranche and will bill and deliver for that tranche.

Global coordinator JPMorgan is the left bookrunner for the euro-denominated tranche and will bill and deliver for that tranche.

Barclays, Credit Suisse, HSBC, Lloyds and Royal Bank of Scotland are the joint bookrunners.

The Rule 144A and Regulation S notes come with three years of call protection.

The Rolle, Switzerland-based chemical company plans to use the proceeds to redeem all of its outstanding dollar-denominated 6 1/8% notes due 2018 and its euro-denominated 6½% notes due 2018.

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