Kraton Performance Polymers today added on another $100 million to its 6.75% notes due 2019, via joint bookrunners Bank of America, Credit Suisse, Goldman Sachs, Macquarie, and Morgan Stanley. Pricing came tight to guidance and the additional notes bring the total issue size to $350 million. Funds from the fungible add-on will be used for general corporate purposes, such as funding capital expenditures or investments that might include a portion of a new hydrogenated SBC manufacturing facility, according to the company. Terms:
| Issuer | Kraton Performance Polymers | |
| Ratings | B+/B1 | |
| Amount | $100 million | |
| Issue | add-on senior notes (off the shelf) | |
| Coupon | 6.75% | |
| Price | 101.25 | |
| Yield | 6.45% | |
| Spread | T+479 | |
| FRN eq. | L+461 | |
| Maturity | March 1, 2019 | |
| Call | nc3 | |
| Trade | March 15, 2012 | |
| Settle | March 20, 2012 (T+3) | |
| Books | BAML/CS/GS/Macq/MS | |
| Co-Lead | ||
| Co’s. | ||
| Px talk | 101-101.25 | |
| Notes | w/ equity clawback for 35% @ 106.75 until 3/1/15; w/ change-of-control put @ 101; issue size now $350 million. |