Rain Carbon starts capped tender offer for 7¼% notes due 2025

Chicago, July 26 – Rain Carbon Inc. commenced a cash tender offer on Wednesday for up to $480 million of its 7¼% senior secured notes due 2025 (Cusips: 75079RAC2, U74987AD7), according to a press release.

The company is offering $1,000.70 for each $1,000 note, inclusive of a $30 early tender payment that will only be paid to noteholders who tender by the early deadline. Interest will also be paid to the settlement date.

There are $550 million of the notes outstanding, including $20.2 million of notes held by the company or its affiliates.

The early tender deadline is 5 p.m. ET on Aug. 9.

The offer expires at 5 p.m. ET on Aug. 23.

Early settlement is planned for within five business days of the early deadline, and final settlement is expected within three business days of the final deadline.

Tenders may be subject to proration.

There is a financing condition which must be satisfied.

Goldman Sachs & Co. LLC is the dealer manager (800 828-3182, 212 902-5962).

D.F. King & Co., Inc. is the information and tender agent for the offer (866 416-0577, 212 269-5550, raincarbon@dfking.com).

Rain Carbon is a Stamford, Conn.-based producer of a diversified portfolio of carbon-based and chemical products.

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