France-based SNF Floerger roadshowing $450 million 8.4-year notes

By Paul A. Harris

Portland, Ore., April 11 – SNF Floerger Group, a subsidiary of SPCM SA, is marketing a $450 million offering of senior notes due Sept. 15, 2025 (expected ratings Ba2/BB+) on a roadshow that is set to wrap up on Wednesday, according to a market source.

Joint physical bookrunner BofA Merrill Lynch will bill and deliver. BNP Paribas is also a joint physical bookrunner.

Credit Agricole CIB, Natixis and SG CIB are the co-managers.

The Rule 144A for life 8.4-year notes become callable after three years at par plus 75% of the coupon and feature a three-year 35% equity clawback at par plus the coupon and a 101% poison put.

The Andrezieux, France-based producer of polyacrylamide plans to use the proceeds to refinance its 6% senior notes due 2022.

© 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.