Celanese starts European roadshow Tuesday for $1.565 billion equivalent 10-year notes

By Paul A. Harris

St. Louis, May 17 - BCP Caylux Holding (Celanese AG) will start a two-day European roadshow Tuesday for a $1.565 billion equivalent offering of 10-year senior subordinated notes in dollar and euro tranches, according to syndicate sources. Tranche sizes will be determined later.

A U.S. roadshow is set to get underway on Thursday.

Morgan Stanley, Deutsche Bank Securities and Banc of America Securities will be joint bookrunners for the Rule 144A/Regulation S offering, which will have registration rights.

The notes will come with five years of call protection.

Proceeds will be used to help fund the €3.1 billion leveraged buyout of the company by Blackstone Capital Partners.

Celanese, a Kronnberg, Germany, industrial chemical company, was spun off from the former Hoechst AG in 1999.

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