A. Schulman expected to sell $375 million senior notes for acquisition of Citadel Plastics

By Paul A. Harris

Portland, Ore., April 28 – A. Schulman, Inc. is expected to sell $375 million of senior notes (B3/B+) to help fund an acquisition and to refinance debt, according to a market source.

The company is acquiring Evansville, Ind.-based global composite plastics company Citadel Plastics Holdings, Inc. in a transaction that is expected to close in the third quarter of this year.

Financing also includes a term loan B in tranches sized at $425 million and €145 million, a $200 million term loan A and a $300 million revolver.

J.P. Morgan Securities LLC will lead the bank debt, the source said, but added that timing on the bond and bank loan financings was pending at Tuesday’s close.

A. Schulman is a global plastics supplier, based in Fairlawn, Ohio.

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