Kraton to price $400 million notes on Friday, whisper is 7% to 7½%

By Paul A. Harris

Portland, Ore., March 16 – Kraton Corp. is expected to price $400 million of eight-year senior notes on Friday, according to market sources.

Early guidance has the notes coming with a yield in the 7% to 7½% area, a trader said.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, JP Morgan Securities LLC and Nomura are managing the Rule 144A and Regulation S deal.

The notes come with three years of call protection.

The issuing entities will be wholly owned subsidiaries Kraton Polymers LLC and Kraton Polymers Capital Corp.

The Houston-based producer of engineered polymers and styrenic block copolymers plans to use the proceeds to repay a portion of its senior secured term loan facility.

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