Ineos to sell €350 million long five-year secured notes on Thursday; talk is 3¼%-3½%

By Paul A. Harris

Portland, Ore. Oct. 21 – Ineos plans to price a €350 million offering of senior secured notes due March 2026 (Ba2/BB+/BBB-) on Thursday, according to a market source.

Price talk has the deal coming to yield 3¼% to 3½%.

Joint global coordinator Credit Suisse will bill and deliver. BofA and Deutsche Bank are also joint global coordinators.

BNP Paribas, Lloyds and Santander are the joint bookrunners.

The Rule 144A and Regulation S notes are coming with a tenor of five years and five months and become callable after two years at par plus 50% of the coupon.

The issuing entity will be Ineos Finance plc.

The London-based supplier of petrochemicals and specialty chemicals plans to use the proceeds for general corporate purposes.

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