Synthomer starts roadshow for €350 million five-year notes; proceeds to fund tender offer

By Paul A. Harris

Portland, Ore., April 9 – Synthomer plc began a roadshow on Tuesday for a €350 million offering of five-year senior notes (expected B1/confirmed BB-), according to market sources.

The roadshow runs through Thursday.

The Rule 144A and Regulation S notes come with two years of call protection.

Joint global coordinator and joint physical bookrunner HSBC will bill and deliver. Citigroup and Goldman Sachs are also joint global coordinators and joint physical bookrunners. Commerzbank and Santander are joint global coordinators and joint bookrunners. JPMorgan is a joint bookrunner.

The Essex, U.K.-based supplier of high-performance polymers plans to use the proceeds plus balance sheet cash to fund a concurrent tender offer for certain of its 3 7/8% senior notes due 2025.

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