Oxea sets price talk for €500 million equivalent seven-year dollar-, euro-denominated notes

By Paul A. Harris

St. Louis, July 8 - Germany's Oxea GmbH set price talk for its €500 million equivalent offering of seven-year senior secured notes (B2/B+) on Thursday, according to an informed source.

The dollar-denominated notes are talked to price with a 9½% yield. The euro-denominated notes are expected to price yielding 9¾%.

The deal is expected to price on Friday.

Deutsche Bank Securities, Morgan Stanley and JPMorgan are leading the Rule 144A and Regulation S for life offering.

Proceeds will be used to repay bank debt, as well as to repay shareholder loans, to fund a distribution to shareholders and for general corporate purposes.

The prospective issuer is a chemical company based in Oberhausen, Germany.

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