Terphane starts roadshow for $100 million five-year notes via Jefferies

By Paul A. Harris

St. Louis, May 6 - Terphane Holding Corp. started a roadshow Thursday for a $100 million offering of five-year senior secured notes (B-), according to an informed source.

The roadshow is expected to close on May 21.

Jefferies & Co. is the bookrunner for the Rule 144A offering.

The notes will come with three years of call protection and will contain a two-year, 35% equity clawback.

Proceeds will be used to fund a cash distribution to equity holders and to repay debt.

The issuer is based in Bloomfield, N.Y., and Sao Paulo, Brazil, and is a producer of polyester films used in packaging and industrial applications.

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