New Issue: Olin prices $500 million 9½% five-year bullet at 99.5 to yield 9.626%

By Paul A. Harris

Portland, Ore., May 14 – Olin Corp. priced a $500 million issue of 9½% five-year senior bullet notes (Ba3/BB-) at 99.5 to yield 9.626% in a Monday drive-by, according to a syndicate source.

The yield printed at the wide end of yield talk in the 9½% area.

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

Issuer:	Olin Corp.
Amount:	$500 million
Maturity:	June 1, 2025
Securities:	Senior notes
Bookrunners:	BofA Securities Inc., Citigroup Global Markets Inc., JP Morgan Securities LLC, Wells Fargo Securities LLC, PNC Capital Markets, SMBC Nikko, MUFG
Coupon:	9½%
Price:	99.5
Yield:	9.626%
Spread:	931 basis points
Call protection:	Non-callable
Trade date:	May 14
Settlement date:	May 19
Ratings:	Moody's: Ba3
	S&P: BB-
Distribution:	Rule 144A and Regulation S for life
Price talk:	9½% area
Marketing:	Drive-by

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