LSF11 markets $350 million eight-year notes backing Lone Star's acquisition of AOC

By Paul A. Harris

Portland, Ore., Sept. 27 – LSF11 A5 Holdco LLC began a roadshow on Monday for a $350 million offering of eight-year senior notes (expected Caa1/existing B-) backing the buyout of AOC Resins, according to market sources.

The deal, which was set to kick off on a Monday conference call with investors, is in the market with initial guidance in the high-6% area and is scheduled to price later this week.

Left bookrunner RBC Capital Markets LLC will bill and deliver. BofA Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are the joint bookrunners.

The Rule 144A for life notes come with three years of call protection.

Proceeds will be used to fund the acquisition of AOC, a Collierville, Tenn.-based producer of specialty resins, by Lone Star Funds from CVC Capital Partners.

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