Rhodia to start roadshow Friday in Europe for €625 million equivalent offering

By Paul A. Harris

St. Louis, April 22 - French specialty chemical manufacturer Rhodia will start its roadshow Friday in Frankfurt and Paris for a €625 million equivalent offering of six-year senior notes (expected ratings B3/B-), according to a syndicate source.

The roadshow moves to London on Monday and Tuesday. Global launch is expected to take place during the week of May 3.

The notes will be sold in dollar and euro tranches, with tranche sizes to be determined.

Credit Suisse First Boston, BNP Paribas and Goldman Sachs & Co. are joint bookrunners for the Rule 144A/Regulation S offering. Credit Lyonnais is joint lead manager.

The notes will come with four years of call protection.

Proceeds will be used to pay down bank debt and address medium term liquidity issues.

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