Kraton Polymers to launch $1.28 billion term loan B on Monday

By Sara Rosenberg

New York, Dec. 2 – Kraton Polymers LLC is scheduled to hold a lender call on Monday to launch a $1,278,000,000 term loan B, according to a market source.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Nomura Securities International Inc. are the leads on the loan.

Price talk on the term loan B is Libor plus 400 basis points with a 1% Libor floor and a par issue price, the source said.

The term loan B has 101 soft call protection for six months.

Proceeds will be used to reprice an existing term loan B from Libor plus 500 bps with a 1% Libor floor.

Kraton is a Houston-based producer of engineered polymers and styrenic block copolymers.

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