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Momentive to Issue $1.28 Billion in Debt

11:41 AM MDT | October 25, 2010 | Vincent Valk

Momentive is launching two new debt issues, one for $840 million and the other for $440 million, the company says. The $440 million portion will be issued by Momentive Specialty Chemicals, formerly Hexion, while the $840 million portion will be issued by Momentive Performance Materials. Both issuances are private placements maturing in 2020, and the interest rates have not been announced. Momentive and Hexion were merged by their private equity owner, Apollo Management, in September. The proceeds from the debt issue will go towards repaying four classes of...

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