Synthomer postpones €300 million seven-year notes offering, cites unfavorable market conditions

By Paul A. Harris

Portland, Ore., June 28 – Synthomer plc announced in a Thursday press release that, despite a strong response from investors, it has decided not to complete its €300 million offering of seven-year senior notes (Ba2/BB) due to unfavorable market terms and conditions.

Initial price talk on those notes was in the high 3% area.

The deal ran an investor roadshow that was scheduled to conclude on June 27.

Barclays, Citigroup, HSBC, Commerzbank and SEB were leading the placement effort for the Regulation S only deal.

The Harlow, England-based specialty chemical company intended to use the proceeds to repay debt and for general corporate purposes.

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