Ineos Quattro starts roadshow for €800 million equivalent two-part offering of five-year notes

By Paul A. Harris

Portland, Ore., Nov. 6 – Ineos Quattro Finance 2 plc started a brief roadshow on Monday for an €800 million equivalent two-part offering of senior secured notes due March 2029 (Ba3/BB/BB+), according to market sources.

The offering features a tranche of dollar-denominated notes with initial guidance in the high-9% area. It also features at tranche of euro-denominated notes.

The roadshow runs through Tuesday.

Tranche sizes remain to be determined.

The notes become subject to an initial call in two years at par plus 50% of the respective coupon.

Goldman Sachs is the lead.

The London-based chemicals company plans to use the proceeds plus €2 billion equivalent of new term loans to partially refinance its dollar- and euro-denominated term loans B due 2026 and to fund an acquisition.

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