Georgia Gulf plans $450 million 10-year notes; pricing Jan. 14 week

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Jan. 17 - Georgia Gulf Corp. intends to sell $450 million senior notes due 2023 (expected ratings Ba2/BB), according to a market source.

Books close at noon ET Thursday. The notes are expected to price Thursday afternoon or Friday morning.

Barclays is the lead left bookrunner.

J.P. Morgan Securities LLC, RBC Capital Markets and Wells Fargo Securities LLC are the joint bookrunners.

Houlihan and PNC Capital Markets LLC are the co-managers.

The Rule 144A and Regulation S with registration rights notes will be non-callable for five years.

The notes feature standard high-yield incurrence based covenants.

The Atlanta-based chemical manufacturer will use the proceeds, together with cash on hand and/or revolver borrowings, to repurchase or redeem the existing Georgia Gulf 9% senior secured notes due 2017.

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