Tronox to start roadshow Tuesday for $650 million eight-year notes

By Paul A. Harris

Portland, Ore., Aug. 13 - Tronox Finance LLC, a unit of Tronox Ltd., plans to start a brief roadshow on Tuesday in New York City for a $650 million offering of eight-year senior notes (expected ratings B1/BB-), according to a market source.

The roadshow moves to Boston on Wednesday, and the deal is set to price thereafter.

Goldman Sachs & Co., Credit Suisse Securities (USA) LLC and UBS Investment Bank are the joint bookrunners.

The Rule 144A and Regulation S with registration rights notes come with three years of call protection.

About $400 million of the proceeds will be used to return shareholder capital, including share buybacks. The remainder of the proceeds will be used for general corporate purposes and possible returns of capital to shareholders from time to time.

The prospective issuer is a Stamford, Conn.-based producer and marketer of titanium dioxide pigment.

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