Taminco kicks off $452 million offering of eight-year secured notes

By Paul A. Harris

Portland, Ore., Jan. 13 - Taminco Global Chemical Corp. launched a $452 million offering of eight-year second-priority senior secured notes on Friday, according to an informed source.

Roadshows get under way in London on Monday and in the United States on Wednesday.

Pricing is set for the week of Jan. 23.

Credit Suisse Securities (USA) LLC, UBS Securities LLC, Citigroup Global Markets Inc., Nomura, Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the joint bookrunners.

The Rule 144A and Regulation S for life notes will become callable in five years at par plus ¾ coupon. The notes feature a three-year 40% equity clawback and a 101% poison put.

Proceeds will be used to help fund the buyout of the company by Apollo Global Management LLC from CVC Capital Partners for about €1.1 billion.

Taminco is a Belgium-based producer of alkylamines and their derivatives.

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