Rain Carbon to sell $1.05 billion of eight-year senior notes

By Paul Deckelman

New York, March 3 – Rain Carbon Inc. announced plans on Friday to sell $1.05 billion of senior notes due 2025.

The offering will be made under Rule 144A and Regulation S.

The company said that the issue will be guaranteed by its domestic subsidiaries.

Further details about the structure of the notes, the timing of the issue and the underwriting banks involved were not immediately available.

Rain Carbon, a Stamford, Conn.-based producer of carbon-based and chemical products, plans to use the proceeds to repurchase or redeem its 8% senior secured notes due 2018, 8¼% dollar-denominated senior secured notes due 2021 and 8½% euro-denominated senior secured notes due 2021 issued by subsidiaries, and to repay all outstanding debt under its revolving line of credit and term loan facility.

Remaining proceeds will be used for general corporate purposes.

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