HOUSTON, March 15, 2017 /PRNewswire/ -- Kraton
Corporation (NYSE: KRA) ("Kraton") announced today that
Kraton Polymers LLC and Kraton Polymers Capital Corporation, its
wholly-owned subsidiaries (together, the "Issuers"), intend to
offer $400 million in aggregate
principal amount of senior notes due 2025 (the "Notes"), subject to
market and customary conditions. The Notes will be general
unsecured obligations of Kraton Polymers LLC and Kraton Polymers
Capital Corporation, and will be guaranteed by Kraton and each of
the Issuers' wholly-owned domestic subsidiaries that guarantee
Kraton's existing senior secured term loan facility, existing
senior secured asset backed loan facility and existing 10.500%
senior notes due 2023.
Kraton intends to use the net proceeds from the offering to
repay a portion of the outstanding borrowings under its existing
senior secured term loan facility.
The Notes will be offered, and sold, to persons reasonably
believed to be qualified institutional buyers in the United States pursuant to Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act"), and
to persons outside of the United
States pursuant to Regulation S under the Securities Act.
The offer and sale of the Notes, and related guarantees, have not
been, and will not be, registered under the Securities Act or any
state securities laws and may not be offered or sold in
the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and applicable state laws.
This press release does not constitute an offer to sell or
the solicitation of an offer to purchase any of the foregoing
securities, nor shall there be any sale of the securities in any
state or jurisdiction in which such offer, solicitation, sale or
purchase would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
FORWARD LOOKING STATEMENTS
Some of the statements in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. This press release
includes forward-looking statements that reflect our plans,
beliefs, expectations, and current views with respect to, among
other things, future events and financial performance.
Forward-looking statements are often characterized by the use of
words such as "outlook," "believes," "target," "estimates,"
"expects," "projects," "may," "intends," "plans," "on track," or
"anticipates," or by discussions of strategy, plans or
intentions.
All forward-looking statements in this press release, including
statements regarding completion of the offering of the Notes, are
made based on management's current expectations and estimates,
which involve known and unknown risks, uncertainties, and other
important factors that could cause actual results to differ
materially from those expressed in forward-looking statements.
These risks and uncertainties are more fully described in our
latest Annual Report on Form 10-K, including but not limited to
"Part I, Item 1A. Risk Factors" and "Part II, Item 7. Management's
Discussion and Analysis of Financial Condition and Results of
Operations" therein, and in our other filings with the Securities
and Exchange Commission, and include, but are not limited to, risks
related to: Kraton's intention to offer the Notes; Kraton's
financing plans and use of proceeds of the proposed offering; the
integration of Arizona Chemical (now, AZ Chem Holdings LP);
Kraton's ability to repay its indebtedness and risks associated
with incurring additional indebtedness; Kraton's reliance on third
parties for the provision of significant operating and other
services; conditions in, and risks associated with operating in,
the global economy and capital markets; fluctuations in raw
material costs; limitations in the availability of raw materials;
competition in Kraton's end-use markets; and other factors of which
we are currently unaware or deem immaterial. Readers are cautioned
not to place undue reliance on our forward-looking statements.
Forward-looking statements speak only as of the date they are made,
and we assume no obligation to update such information in light of
new information or future events.
For Further Information:
H. Gene Shiels 281-504-4886
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SOURCE Kraton Corporation