Italmatch plans €200 million additional floating-rate notes due 2024

By Sarah Lizee

Olympia, Wash., April 8 – Italmatch Chemicals SpA parent Fire (BC) SpA is proposing to offer €200 million of additional senior secured floating-rate notes due Sept. 30, 2024, according to a company announcement.

The notes will form a single series with the issuer’s existing €410 million senior secured floating-rate notes due 2024. The original notes priced at par on Sept. 21, 2018 with a coupon of Euribor plus 475 basis points.

Joint global coordinators and bookrunners on the original issue were Goldman Sachs International and BNP Paribas along with bookrunners Citigroup and Credit Agricole CIB.

The additional notes will have the same terms as the original notes, including for waivers, amendments, redemptions and offers to purchase.

Proceeds will be used to refinance debt under a bridge facility agreement entered into in order to fund the company’s acquisition of all the membership interests of BWA Holdings LLC on Feb. 14.

Genoa, Italy-based Italmatch specializes in performance additives for the lubricant, plastics, water and oil markets.

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