Taminco sets Wednesday launch for senior secured credit facility

By Sara Rosenberg

New York, Jan. 6 - Taminco Group Holdings has scheduled a bank meeting for 2 p.m. ET on Wednesday to launch its proposed senior secured credit facility, according to market sources.

Citigroup Global Markets Inc., Nomura, Credit Suisse Securities (USA) LLC, UBS Securities LLC, Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the lead banks on the deal.

The deal, which is expected to include a revolver and a term loan, was committed to in euros but will be issued in dollars, sources said. Official amounts on tranche sizes have not been publicly disclosed.

Proceeds, along with high-yield bonds, will be used to fund the buyout of the company by Apollo Global Management LLC from CVC Capital Partners for about €1.1 billion.

Chatter is that the credit facility and bond commitment totals €720 million, sources added.

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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