TPC Group issuing $655 million in bonds

TPC Group is issuing $655 million in senior secured bonds in a private placement, in connection with its $850-million buyout by private equity firms First Reserve (Houston) and SK Capital (New York). Proceeds from the bond issue will be used partly to fund the offering, partly to pay down debt, and partly to fund capital expansion projects.   The maturity date and interest rate of the new bonds has not been determined. Yesterday, Innospec, along with private equity firm Blackstone Capital Partners (New York), dropped its rival bid for TPC, clearing the way...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers