Resolution Performance Products upsized $140 million six-year notes yield 8%

By Paul A. Harris

St. Louis, Dec. 17 - Resolution Performance Products LLC priced an upsized $140 million of six-year senior secured notes (B+) Wednesday at par to yield 8%, a syndicate source said.

The offering, which matures Dec. 15, 2009, was increased from $125 million. Price talk was 8%-8 1/8%.

Morgan Stanley ran the books on the Rule 144A issue, which has registration rights. The co-managers were Credit Suisse First Boston, JP Morgan and Citigroup.

The Houston-based epoxy resins manufacturer plans to use proceeds to repay bank debt and for general corporate purposes.

Issuer:	Resolution Performance Products LLC
Amount:	$140 million (increased from $125 million)
Maturity:	Dec. 15, 2009
Security description:	Senior secured notes
Bookrunner:	Morgan Stanley
Co-managers:	Credit Suisse First Boston, JP Morgan, Citigroup
Coupon:	8%
Price:	Par
Yield:	8%
Call features:	Callable after Dec. 15, 2006 at 104.0, 102.0, par on Dec. 15, 2008 and thereafter
Equity clawback:	Until Dec. 15, 2006 for 35% at 108.0
Settlement date:	Dec. 22, 2003
Ratings:	Standard & Poor's: B+
Rule 144A Cusip:	76115NAE1

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