Taminco plans $500 million facility, $350 million bonds for buyout

By Sara Rosenberg

New York, Dec. 16 - Taminco Group Holdings is expecting to get a new $500 million senior secured credit facility and issue $350 million of high-yield bonds to help fund its acquisition by Apollo Global Management LLC, according to sources.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., UBS Securities LLC and Nomura are the lead banks on the financing.

The credit facility consists of a $150 million revolver and a $350 million term loan, sources said.

Although the debt is being done out of the United States, the amounts will be available to the company in euro equivalents, sources added.

Under the agreement, Apollo is buying Taminco from CVC Capital Partners for about €1.1 billion.

The equity check for the transaction is about 40%.

Closing is expected in the first half of 2012, subject to customary conditions.

Taminco is a Belgium-based producer of alkylamines and their derivatives.

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