TPC to start roadshow on Wednesday for $655 million eight-year notes

By Paul A. Harris

Portland, Ore., Dec. 4 - TPC Group Inc. will begin a roadshow on Wednesday for a $655 million offering of eight-year senior notes, according to a syndicate source.

The deal is set to price early in the week ahead.

Bank of America Merrill Lynch, Jefferies & Co. and Morgan Stanley & Co. LLC are the joint bookrunners. Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the co-managers.

The Rule 144A for life notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to help fund the acquisition of TPC by First Reserve Corp. and SK Capital Partners.

The issuing entity is Sawgrass Merger Sub Inc., which will be merged into TPC Group, a Houston-based processor and service provider of value-added products derived from niche petrochemical raw materials.

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