TITLE

Springtime for Momentive with $1.365B in HY

AUTHOR(S)
Sheahan, Matthew
PUB. DATE
November 2010
SOURCE
High Yield Report;11/1/2010, Vol. 21 Issue 44, p11
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article focuses on the 1.365 billion U.S. dollars in junk bonds issued by Momentive Performance Materials and Momentive Specialty Chemicals on October 25, 2010. Particular focus is given to the springing-lien feature of the deal. There is a plan by Momentive Performance to use proceeds from the deal in financing cash tender offers for senior notes due 2014. The early tender date of the offers is November 4, 2010 and will expire on November 19.
ACCESSION #
54939652

 

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