Styron to launch $1.3 billion term loan on Thursday for dividend recap

By Sara Rosenberg

New York, Jan. 18 - Styron is scheduled to hold a bank meeting on Thursday to launch its proposed $1.3 billion 61/2-year term loan, according to a market source.

Proceeds will be used to refinance an existing term loan, repay revolver borrowings, take out seller notes and fund a dividend.

Deutsche Bank Securities Inc., HSBC Securities Inc., Barclays Capital Inc. and BMO Capital Markets Corp. are the lead banks on the deal.

Styron is a diversified chemical manufacturer of emulsion polymers and plastics.

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