Kraton Polymers $90 million proceeds 10-year discount notes talked 11 1/8%-11 3/8%

By Paul A. Harris

St. Louis, Oct. 19 - Price talk on Polymer Holdings LLC/Polymer Holdings Capital Corp.'s (Kraton) $90 million offering of 10-year senior discount notes (Caa2/B-) emerged Tuesday at 11 1/8% to 11 3/8%, according to market sources.

Although the quick-to-market deal was expected to price Tuesday afternoon, at the end of the session terms had not been announced, sources said.

Goldman Sachs & Co. and UBS Investment Bank have the books for the Rule 144A offering.

The notes will be callable with a make-whole call at Treasuries plus 50 basis points until Nov. 15, 2009 and will then become callable at a premium.

Proceeds will be used to repay debt.

The Houston-based company makes styrenic block copolymers which are used in adhesives, sealants and other materials.

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