Trinseo plans international roadshow for $750 million dual-currency offering of seven-year notes

By Paul A. Harris

Portland, Ore., April 13 – Trinseo plans to start an international roadshow on Tuesday for a $750 million equivalent offering of seven-year senior notes in dollar- and euro-denominated tranches, according to an informed source.

A European roadshow starts Tuesday and wraps up on Friday. A roadshow in the United States starts April 20 and wraps up on April 22.

Conference calls for European investors are scheduled to take place on Tuesday and Wednesday. A conference call for U.S. investors is scheduled for April 20.

The deal is expected to price on April 23.

The minimum tranche sizes will be $300 million and €300 million. Final tranche sizes remain to be determined.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Barclays, Goldman Sachs & Co., HSBC Securities (USA) LLC, Mizuho Securities USA Inc., Scotia Capital and SMBC Nikko are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after three years at par plus 50% of the coupon.

The issuing entities will be Trinseo Materials Operating SCA and Trinseo Materials Finance, Inc. subsidiaries of Trinseo.

The Berwyn, Pa.-based materials company and manufacturer of plastics, latex and rubber plans to use the proceeds along with $450 million of term loan borrowings and available cash to repay its 8¾% senior notes due 2019.

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