Techniplas sets talk for €135 million five-year secured notes, looks for 9¾%-10% yield

By Paul A. Harris

Portland, Ore., Jan. 22 – Techniplas BV talked its €135 million offering of five-year senior secured notes (B3/B) with a 9¼% to 9½% coupon and a 9¾% to 10% all-in yield, an informed source said on Thursday.

The final talk comes wider than earlier guidance that had the all-in yield coming in the low to mid 9s.

Books close at 9:30 a.m. ET on Friday.

Physical bookrunner Barclays will bill and deliver. IKB Deutsche Industriebank AG is also a physical bookrunner. SEB is a bookrunner.

The notes come with two years of call protection and feature a 35% equity clawback at par plus the coupon during the non-call period. The notes also feature a 101% poison put.

Proceeds will be used to repay debt and for general corporate purposes.

The issuer owns and operates a group of plastics manufacturing businesses primarily serving the automotive and transportation industries. It is based in Nashotah, Wis.

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