Italmatch talks €410 million six-year notes at Euribor plus 500 bps; pricing Friday

By Paul A. Harris

Portland, Ore., Sept. 20 – Italmatch Chemicals SpA talked its €410 million offering of six-year senior secured floating-rate notes (B3/B) at a 500 basis points spread to Euribor, according to a market source.

The deal is set to price on Friday.

Joint global coordinator and joint bookrunner Goldman Sachs International will bill and deliver for the Rule 144A and Regulation S offering. BNP Paribas is also a joint global coordinator and joint bookrunner. Citigroup and Credit Agricole CIB are joint bookrunners.

The notes become callable after one year at 101.

The issuing entity will be special purpose vehicle Fire (BC) SpA.

Proceeds will be used to help fund the acquisition of Italmatch, a Genova, Italy-based specialty chemical additive manufacturer, by Bain Capital from Ardian.

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