Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Eco Services Operations LLC > News item |
Eco Services starts roadshow for $200 million eight-year notes
By Paul A. Harris
Portland, Ore., Oct. 6 – Eco Services Operations LLC and Eco Finance Corp. began a roadshow on Monday for their $200 million offering of eight-year senior notes (Caa1/CCC+), according to a syndicate source.
The Rule 144A for life deal is expected to price late this week.
Credit Suisse Securities (USA) LLC, Jefferies LLC and Citigroup Global Markets Inc. are the joint bookrunners.
The notes become callable after three years at par plus 50% of coupon and feature a three-year 40% equity clawback and a 101% poison put.
Proceeds, in addition to a $500 million term loan and an equity contribution from private equity sponsor CCMP Capital Advisors, will be used to fund the purchase of Solvay SA’s sulfuric acid business for $890 million.
Eco Services is a Cranbury, N.J.-based chemical company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.