New Issue: OM Group $400 million 10-year notes yield 9¼%

By Paul A. Harris

St. Louis, Mo., Dec. 7 - OM Group Inc. priced $400 million of senior subordinated notes due Dec. 15, 2011 (B2/B+) Friday to yield 9¼%, syndicate sources told Prospect News.

Credit Suisse First Boston was bookrunner on the Rule 144A offering. Co-managers were ABN Amro, Banc One Capital Markets, Lehman Brothers, Credit Lyonnais, NatCity Investments, Barclays Capital and Scotia Capital.

The deal priced "in the talk area" of the 9¼% area price talk, a syndicate official commented.

Issuer:	OM Group, Inc.
Amount:	$400 million
Maturity:	Dec. 15, 2011
Type:	Senior subordinated notes
Bookrunner:	Credit Suisse First Boston
Coupon:	9¼%
Price:	Par
Yield:	9¼%
Spread:	418.5 basis points over the 5% Treasury due August 2011
Call features:	Callable on Dec. 15, 2006 at 104.625 then at 103.083, 101.542,
	declining to par on Dec. 15, 2009 and thereafter
Equity clawback:	At 104 for 120 days after the sale then at 109.250%
	until Dec. 15, 2004 for up to 35%
Settlement date:	Dec. 12, 2001 (T+3)
Ratings:	Moody's: B3
	Standard & Poor's: B+
Cusip:	670872AA8
End

© 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.