Olin whispers $500 million 10-year notes to yield 5 1/8%-5 3/8%; pricing Monday

By Paul A. Harris

Portland, Ore., March 6 – Olin Corp. plans to price a $500 million offering of 10-year senior notes on Monday, according to a market source.

Initial guidance has the public deal yielding 5 1/8% to 5 3/8%.

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

TD Securities is the co-manager.

The notes come with five years of call protection.

Proceeds will be used to prepay some of the loans outstanding under the Sumitomo credit facility, which was used to refinance then-existing Blue Cube debt, as well as to pay fees and expenses in connection with the acquisition of the DCP business and for general corporate purposes.

The prospective issuer is a Clayton, Mo.-based manufacturer of ammunition, chlorine, and sodium hydroxide.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.