Lune Holdings brings €450 million seven-year secured notes backing buyout of Kem One by Apollo

By Paul A. Harris

Portland, Ore., Nov. 1 – Lune Holdings Sarl started a roadshow on Monday for a €450 million offering of seven-year senior secured sustainability-linked notes (B2/B/B), according to market sources.

The deal, to help fund the acquisition of European PVC manufacturer Kem One Group by Apollo Group Management, is in the market with initial guidance in the mid-to-high 5% area.

The roadshow runs through Thursday.

Global coordinator and joint bookrunner J.P. Morgan Securities LLC will bill and deliver. Barclays, HSBC Securities (USA) Inc. and RBC Capital Markets Corp. are also joint bookrunners.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.

Proceeds plus balance sheet cash and a cash contribution from Apollo will be used to finance the acquisition and repay Kem One debt.

© 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.