Solutia plans roadshow for $400 million eight-year notes via Citigroup, Goldman, Deutsche Bank

By Paul A. Harris

St. Louis, Jan. 3 - Solutia Inc. plans to begin a roadshow for its $400 million offering of eight-year senior notes (expected ratings B2/B) a few days after next Monday's bank meeting for its $1.6 billion credit facility, according to Susannah Livingston, Solutia's director of investor relations.

Citigroup, Goldman Sachs & Co. and Deutsche Bank Securities are leading both the bank and bond portions of the financing, which will be used to fund Solutia's exit from Chapter 11 bankruptcy, Livingston added.

The company filed for bankruptcy protection in December 2003.

Livingston said that the banks have agreed to provide $400 million of senior unsecured bridge financing in the event that the company is unable to place the bonds.

Solutia is a St. Louis-based manufacturer and provider of performance films, specialty chemicals and an integrated family of nylon products.

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