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Ingevity plans to price $550 million eight-year notes on Wednesday; initial talk 4% area
By Paul A. Harris
Portland, Ore., Oct. 20 – Ingevity Corp. plans to price a $550 million offering of senior notes (Ba3//BB) on Wednesday, according to market sources.
Initial talk has the deal coming to yield in the 4% area, a trader said.
J.P. Morgan Securities LLC is leading the sale.
The Rule 144A and Regulation S notes come with three years of call protection.
The North Charleston, S.C.-based specialty chemicals company plans to use the proceeds to repay debt.
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