Chemical Week Magazine :: Newsbriefs
Momentive plans bond sale, sees weak third quarter
9:07 AM MDT | October 12, 2012
Momentive Performance Materials, the former GE silicones operations now owned by private equity firm Apollo Management, says it plans to issue $1.1 billion in 8-year senior secured bonds. The timing and terms were not disclosed. Momentive says it will use proceeds from the offering to repay current senior secured credit facilities, repurchase the $200-million aggregate principal amount of 12.5% notes due 2014, and for general corporate purposes. In addition, Momentive warned that it expects third-quarter results â€œwill reflect continued weak economic conditions...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee