New Issue: Atotech prices $425 million eight-year notes at par to yield 6¼%

By Paul A. Harris

Portland, Ore., Jan. 25 – Germany’s Atotech BV priced a $425 million issue of eight-year senior notes (Caa1/CCC+) at par to yield 6¼% on Wednesday, according to a market source.

The yield printed at the tight end of the 6¼% to 6½ yield talk.

J.P. Morgan Securities LLC, Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC, Nomura and RBC Capital Markets Corp. were the joint bookrunners.

Proceeds will be used to fund the leveraged buyout of the Berlin-based manufacturer of specialty plating chemicals and equipment by the Carlyle Group from Total.

Issuer:	Atotech BV
Amount:	$425 million
Maturity:	Feb. 1, 2025
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC, Nomura, RBC Capital Markets Corp.
Coupon:	6¼%
Price:	Par
Yield:	6¼%
Spread:	381 bps
Call protection:	Three years
Trade date:	Jan. 25
Settlement date:	Jan. 31
Ratings:	Moody's: Caa1
	S&P: CCC+
Distribution:	Rule 144A for life
Price talk:	6¼% to 6½%
Marketing:	Roadshow

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