Ingevity guides $300 million eight-year senior notes at 7% area; pricing expected on Thursday

By Paul A. Harris

Portland, Ore., Jan. 8 – Ingevity Corp. began marketing a $300 million offering of eight-year senior notes on Monday, according to market sources.

The deal comes with initial guidance in the 7% area and is expected to price on Thursday.

BofA Merrill Lynch, Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the joint bookrunners for the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The North Charleston, S.C.-based packaging company plans to use the proceeds to finance the purchase of substantially all the assets primarily used in the pine chemicals business of Georgia-Pacific Chemicals LLC and Georgia-Pacific LLC, and for general corporate purposes.

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