Venator Materials offers $225 million five-year secured notes

By Paul A. Harris

Portland, Ore., May 8 – Venator Materials plc announced in a Friday press release that it intends to privately offer $225 million of senior secured notes due 2025 (B), pending market conditions.

The issuing entities will be wholly owned subsidiaries Venator Finance Sarl and Venator Materials LLC.

The Rule 144A and Regulation S notes will be secured on a first-priority basis by liens on all of the assets that secure the term loan and on a second-priority basis in all inventory, accounts receivable, deposit accounts, securities accounts and other assets.

The Wynard, U.K.-based chemical company plans to use the proceeds to repay debt under its ABL facility and for general corporate purposes, including enhancing its liquidity position.

© 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.