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Rain Carbon to pay down revolver debt, term loan via new notes sale
By Susanna Moon
Chicago, March 3 – Rain Carbon Inc. plans to repay debt under its revolving line of credit and term loan facility using proceeds from the issue of new notes.
Rain Carbon plans to price $1.05 billion principal amount of senior notes due 2025 under Rule 144A and Regulation S, according to a company announcement.
The company also plans to repurchase or redeem the 8% senior secured notes due 2018, 8¼% dollar-denominated senior secured notes due 2021 and 8½% euro-denominated senior secured notes due 2021 issued by its subsidiaries.
Remaining proceeds will be used for general corporate purposes.
The issuer is a Stamford, Conn.-based vertically integrated global producer of a diversified portfolio of carbon-based and chemical products.
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