Techniplas’ €135 million five-year notes guided at low-to-mid 9% yield; price talk due Thursday

By Paul A. Harris

Portland, Ore., Jan. 21 – Techniplas BV is providing preliminary guidance for its €135 million offering of five-year senior secured notes (B3/B) with an all-in yield at low-to-mid 9%, according to an informed source.

The roadshow wraps up Wednesday with final stops in Paris and Amsterdam.

Price talk is due out on Thursday morning in the United Kingdom.

An investor update call is scheduled to take place Thursday to discuss additional details regarding Weidplas; Techniplas acquired the Plastics Technology Automotive and Industrial division of Switzerland-based Weidmann International Corp. last year, and the business was renamed Weidplas.

Physical bookrunner Barclays will bill and deliver. IKB Deutsche Industriebank AG is also a physical bookrunner. SEB is a bookrunner.

The notes come with two years of call protection and feature a 35% equity clawback at par plus the coupon during the non-call period. The notes also feature a 101% poison put.

Proceeds will be used to repay debt and for general corporate purposes.

The issuer owns and operates a group of plastics manufacturing businesses primarily serving the automotive and transportation industries. It is based in Nashotah, Wis.

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