Taminco talks $250 million five-year PIK toggle notes to yield 9½% area with about 1 point OID

By Paul A. Harris

Portland, Ore., Dec. 12 - Taminco Acquisition Corp. met with investors on Wednesday afternoon to discuss a proposed $250 million offering of five-year senior payment-in-kind toggle notes, according to an informed source.

The order books close at 10 a.m. ET on Thursday.

The notes, which are talked with a yield in the 9½% area at an original issue discount of about 1 point, are scheduled to price thereafter.

Credit Suisse Securities (USA) LLC and Citigroup Global Markets are the joint bookrunners.

The Rule 144A for life notes become callable in one year at 102.

The Belgium-based chemical company plans to use the proceeds to fund a dividend to its equity holders.

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