Acetex to start roadshow for $75 million add-on to 10 7/8% notes Tuesday

By Paul A. Harris

St. Louis, July 21 - Acetex Corp. begins the roadshow Tuesday for a $75 million add-on to its 10 7/8% senior notes due Aug. 1 2009 (expected ratings B2/B+), according to an informed source.

The deal is expected to price late in the present week, the source added.

UBS Investment Bank is bookrunner on the Rule 144A deal.

The notes are callable on Aug. 1, 2005 at 105.438, at 103.625 one year later, at 101.813 the following year and at par on Aug. 2, 2008 and onwards. The notes also contain an equity clawback until Aug. 1, 2004 for 35% at 110.875.

Proceeds, together with existing cash, will be used to repay the outstanding debt of AT Plastics Inc.

The prospective issuer is a Vancouver, B.C.-based chemical company.

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