Outokumpu to start roadshow on Tuesday for €250 million senior secured notes

By Abigail W. Adams

Portland, Me., June 4 – Outokumpu Oyj plans to start a roadshow in Europe on Tuesday for an offering of €250 million of six-year senior secured notes (expected Ba3), according to a market source.

The roadshow will run through Thursday.

BNP Paribas and Nordea are coordinators and joint lead managers for the Regulation S deal. Danske Bank and Swedbank are also joint lead managers.

The notes are non-callable for two years. They may be redeemed at 50% of the coupon in year three, 25% of the coupon in year four and then at par.

Holders may require the company to redeem the notes at 101% of par upon a change of control.

Proceeds will be used to redeem the company’s outstanding 7 ¼% senior notes due 2021 and for general corporate purposes.

The notes will be listed on the Nasdaq Helsinki.

Outokumpu is a Helsinki, Finland-based producer of stainless steel.

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