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Omnova Solutions $165 million seven-year bonds talked at 11%-11¼%, pricing Thursday
By Paul A. Harris
St. Louis, May 14 - Price talk of 11%-11¼% emerged Wednesday on Omnova Solutions Inc.'s upcoming sale of $165 million seven-year senior secured notes (B2/BB/BB), according to a market source.
The deal is expected to price on Thursday, the source added.
Deutsche Bank Securities Inc. is the bookrunner.
The Rule 144A notes are non-callable for four years
Proceeds will be used to repay revolver borrowings and terminate the receivables sale program.
The issuer is a Fairlawn, Ohio specialty chemical company.
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