Olin to price $750 million 10-year notes in Thursday drive-by, initial talk 5½% to 5¾%

By Paul A. Harris

Portland, Ore., July 11 – Olin Corp. plans to price a $750 million offering of 10-year senior notes (existing ratings Ba1/BB+) in a Thursday drive-by trailing a mid-morning conference call with investors, according to market sources.

Initial price talk has the deal coming to yield 5½% to 5¾%, an investor said.

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

The notes come with five years of call protection.

The Clayton, Mo.-based ammunition maker plans to use the proceeds to repay term loan debt and for general corporate purposes.

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