Rain Carbon starts roadshow for $1.05 billion eight-year notes offer

By Paul A. Harris

Portland, Ore., March 6 – Rain Carbon Inc. started a roadshow on Monday for a $1.05 billion offering of eight-year senior notes (B1), according to a syndicate source.

The roadshow wraps up on Thursday, and the Rule 144A and Regulation S for life deal is set to price thereafter.

Citigroup Global Markets Inc. is the left bookrunner. Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the joint bookrunners.

The notes become callable after three years at par plus 75% of coupon and feature a three-year 40% equity clawback and a 101% poison put.

The carbon and chemical products producer plans to use the proceeds to refinance debt.

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