SI Group begins roadshow for $300 million five-year senior notes, initial guidance 7% area

By Paul A. Harris

Portland, Ore., May 6 – SI Group started a roadshow on Thursday for a $300 million offering of five-year senior notes (Caa2/CCC+), according to market sources.

Initial guidance has the deal coming to yield in the 7% area, a trader said.

The notes are expected to price during the May 10 week.

J.P. Morgan Securities LLC is the lead.

The notes come with two years of call protection.

The issuing entity will be SK Mohawk Holdings Sarl.

The Schenectady, N.Y.-based specialty chemicals company plans to use the proceeds plus cash on hand to redeem preferred equity and pay down its term loan.

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