By Paul A. Harris
St. Louis, June 18 - Lucite International Finance plc priced a €50 million mirror notes add-on to its 10¼% senior notes due May 15, 2010 (B3/B) at 104.5 to yield 9.09%, an informed source told Prospect News on Thursday.
Merrill Lynch was the bookrunner on the Regulation S-only deal. Deutsche Bank Securities was the co-manager.
Proceeds will be used to repay $30 million of senior debt, and to fund a joint venture.
The issuer is a Southampton, U.K.-based supplier of methacrylates.
| Issuer: | Lucite International Finance plc
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| Amount: | €50 million
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| Security description: | Mirror notes add-on to 10¼% senior notes due 2010
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| Bookrunner: | Merrill Lynch
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| Co-manager: | Deutsche Bank Securities
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| Maturity: | May 15, 2010
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| Coupon: | 10¼%
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| Price: | 104.5
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| Yield: | 9.09%
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| Settlement date: | June 25, 2003
|
| Ratings: | Moody's: B3
|
| Standard & Poor's B
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| Distribution: | Regulation S
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| Price talk: | 104.5 area
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