Olin talks $500 million five-year bullet notes to yield in 9½% area

By Paul A. Harris

Portland, Ore., May 14 – Olin Corp. talked a $500 million offering of five-year senior bullet notes (Ba3/BB-) to yield in the 9½% area, according to a syndicate source.

Books were scheduled to close late Thursday, and allocations were to be conducted thereafter.

BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, PNC Capital Markets LLC, SMBC Nikko Securities America Inc. and MUFG are the joint bookrunners.

The Rule 144A for life notes feature a par call 90 days prior to maturity but are otherwise non-callable.

The Clayton, Mo.-based chemical products and small caliber ammunition supplier plans to use the proceeds for general corporate purposes.

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