Koppers sets roadshow for $400 million offering of eight-year notes

By Paul A. Harris

Portland, Ore., Jan. 13 – Koppers Inc. plans to start a roadshow on Tuesday in New York for a $400 million offering of eight-year senior notes (expected ratings B2/B), according to a syndicate source.

An investor conference call is scheduled to get underway at 12:30 p.m. ET on Tuesday.

The Rule 144A for life deal is set to price late in the Jan. 16 week.

Wells Fargo Securities LLC is the left bookrunner. PNC Capital Markets, BofA Merrill Lynch and Fifth Third Bank are the joint bookrunners.

MUFG, Citizens Bank, BMO Securities, KeyBanc Capital Markets and Huntington are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The Pittsburgh-based provider of treated wood products, wood treatment chemicals and carbon compounds plans to use the proceeds to repurchase all of its outstanding senior notes due 2019, with any excess proceeds to repay debt under the senior secured credit facilities or for general corporate purposes.

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