AOC Resins talks $350 million eight-year notes at 6¾% area yield; pricing Thursday

By Paul A. Harris

Portland, Ore., Sept. 30 – LSF11 A5 Holdco LLC talked its $350 million offering of eight-year senior notes (Caa1/B-) to yield in the 6¾% area, according to market sources.

Official talk comes tight to initial guidance in the high-6% area.

The deal, backing the buyout of AOC Resins, is set to price on Thursday.

Left bookrunner RBC Capital Markets LLC will bill and deliver. BofA Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are the joint bookrunners.

The Rule 144A for life notes come with three years of call protection.

Proceeds will be used to fund the acquisition of AOC, a Collierville, Tenn.-based producer of specialty resins, by Lone Star Funds from CVC Capital Partners.

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