By Lisa Kerner
Charlotte, N.C., April 1 – Synthos SA announced that its subsidiary Synthos Finance AB will issue €50 million of additional 4% senior notes (Ba2/BB/) due Sept. 30, 2021.
The notes will be an add-on to the €350 million of notes issued in September, according to a news release.
As under the original agreement, the notes are guaranteed up to 150% of par.
BNP Paribas, the initial purchaser, will sell the additional notes to the European Bank for Reconstruction and Development.
Closing is expected to occur Thursday.
Proceeds will be used to finance and refinance the investment project and research and development activities of Synthos Group.
Synthos Finance intends to list the additional notes on the Irish Stock Exchange and the Global Exchange Market.
As previously reported, BNP Paribas, Citigroup and Deutsche Bank were the global coordinators and lead managers for the original issue. Banco Santander, ING, PKO BP and UniCredit were the passive bookrunners for that Rule 144A and Regulation S deal.
Synthos produces synthetic rubber and styrenics. It is based in Oswiecim, Poland.
| Issuer: | Synthos Finance AB
|
| Issue: | Senior notes
|
| Amount: | €50 million add-on
|
| Maturity: | Sept. 30, 2021
|
| Coupon: | 4%
|
| Underwriter: | BNP Paribas
|
| Investor: | European Bank for Reconstruction and Development
|
| Settlement date: | April 2
|
| Ratings: | Moody’s: Ba2
|
| Standard & Poor’s: BB
|
| Total issue size: | €400 million
|
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